08-3-05 Meeting of the Tax Increment Reinvestment Zone Number One minutes

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9/13/2005 Calculation of the Amount of Taxes Due the Tax Increment Reinvestment Zone # 1, La Porte, TX By the La Porte ISO For the 2004 Tax Year Data Entry Area: Enter the Amount of Taxes Billed on Property located in the Zone Enter the Amount of Billed Taxes which have not been collected Enter the ISO's Tax Rate (1.7335 = 1.7335 Cents per $100) $145,079.28 $25,110.14 $0.017335 1 Calculation of the Collection Rate for Property in the TIRZ a Total Taxes Billed on Property Located in the TIRZ b Less Total Delinquent Taxes on Property Located in the TIRZ c Equals Total Taxes Collected on Property in the TIRZ d Divided by the Total Taxes Billed on Property Located in the TIRZ e Equals the Collection Rate for Taxes in the TIRZ $145,079.28 $25,110.14 $119,969.14 $145,079.28 82.69% 7(,. c,,; 2 Calculation of the Captured Appraised Value a Total Taxes Billed on Property Located in the TIRZ b Divided by the ISO's Tax Rate c Equals the Total Appraised Value for the Current Year d Less the Tax Increment Base (1999) Value e Equals the Captured Appraised Value $145,079.28 $0.017335 8,369,154 6,346,840 2,022,314 3 Calculation of the Amount Due the TIRZ by the ISO a Captured Appraised Value b Times ISO's Tax Rate c Equals Total Taxes applicable to the Captured Appraised Value d Times the ISO's Collection Rate e Equals the Total Taxes due the TIRZ by the La Porte ISO 2,022,314 $0.017335 $35,056.81 82.69% $28,989.22 'd,b)DO't 4 Breakdown of How ISO Taxes are Applied a Equals the Total Taxes Due the TIRZ by the La Porte ISO b Divided the Total Tax Rate for ISO c Equals Taxes due the Tirz per penny of Tax Rate d Times rate for General TIRZ Projects (.0086 per contract) e Difference is rate for Education Facilities Projects $28,989.22 $0.017335 $167.57 $14,410.83 $14,578.39 I'?) 011,?6