1987-11-02 Public Hearing, Workshop Meeting, and Called Meeting

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• Notice of 1987 Effective Tax Rate for CITY OF LA PORTE The purpose of this notice is to inform you about your taxes. The 1987 effective tax rate is a tax rate that would levy the same amount of operating taxes the taxing unit levied last year on property taxed in both years,.plus the amount the unit needs to pay certain long term debts this year. The rate is calculated as follows: 1986 maintenance & operations tax levy: ~ 3 ,13 2 , 3 5 5 Less taxes levied to recoup 1985 appraisal _ ~ 17 , 5 3 3 roll errors and adjustments for lost value: Equals adjusted 1986 _ 3 ,114 , 8 2 2 maintenance & operations levy: -' ;. 1987 total tax base: 9 3 4 ,19 0 ,13 9 Less adjustments _~ 6, 5 91, 0 8 0 for value of new property: Equals adjusted 1987 tax base: = 9 2 7 5 9 9 0 5 9 The adjusted 1986 levy divided by the adjusted 1987 tax base and multiplied by 100 equals the effective maintenance & operations tax rate: . 3 3 6 /S t o0 Plus rate to correct ~,,,, for appraisal roll errors: ~--~ - 0 - /~ 100 ~ ~1- J Plus rate needed to pay -~ "'~r ~~-__~. _ L debts and obligations: ~' ~~ ~- $ .213 /$100 ~ J r ~ .~. Equals 1987 effective tax rate: _ . 5 4 9 ~ , ~ ~ ~ ~---- i _ ~ (.f 1987 effective tax rate: /'" . 5 4 9 per $100 of value Tlie maximum rate the governing body can adopt without publishing notices and holding a hearing is: • 5 6 6 per $100 of value The maximum rate the governing body can adopt before taxpayers can initiate rollback petitions is: . 5 9 3 per $100 of value This notice contains a summary of the calculations used to determine this year's effective tax rate. You can inspect the full calculations at City Hall-City of La Porte.