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below portrays the actual collections for the last four fiscal years, estimated collections for fiscal year 2006-07 and <br />projected collections for 2007-08. <br />Ad Valorem Tax Collections <br /> Six Year Comparison <br />14,000,000 <br />12,000,000 <br />10,000,000 <br />8,000,000 <br />6,000,000 <br />4,000,000 <br />2,000,000 <br />0 <br />02-0303-0404-0505-0606-0707-08 <br />Tax Collections <br />Another major revenue source that is derived utilizing the taxation process is the collection of “In Lieu of Tax” <br />payments from companies located in the City's two industrial zones. A description of the in lieu of tax agreements can <br />be found in the "Description of City and Economic Background" section beginning on page 21. The City expects to <br />collect $7.7 million from this revenue source. The graph below shows that collections have increased over the last <br />three years. The majority of the increased revenues have been due to inventories; therefore, the City has projected <br />collections to stay level with the actual collections from fiscal year 2006. <br />Sales Taxes are generated when goods are sold in the City. The State of Texas is the collecting agency for these taxes <br />and submits to the City the portion the City is due. The current sales tax rate in our jurisdiction is 8%, which is <br />comprised of 6.25% for the State, 1% for the City, ½% for the La Porte Development Corporation and ¼% for the <br />Street Maintenance Sales Tax, which went into effect October 1, 2006. The City estimates the amount it expects to <br />receive from sales taxes based on historical trends. Due to the steady rise in sales tax collections and increased <br />3 <br /> <br />