09-30-19 Special Meeting of the La Porte City Council

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rollback tax rate is split into two separate rates: I . Maintenance and Operations (M&O): Tile M&O portion is the tax rate that is needed to raise the same amount oftaxes that the taxing unit levied in the prior year plus eight percent. This rate accounts for such things as salaries, utilities and day-to-day operations. 2. Debt: The debt tax rate includes the debt service necessary to pay the taxing unit's debt payments in the coming year. This rate accounts for principal and interest oil bonds and other debt Secured by property tax revenue. ie rollback tax rate for a county is the sum of the rollback tax rates calculated for each type of tax the county levies. In most cases the Ilback tax rate exceeds the effective tax rate, but occasionally decreases in a taxing unit's debt service will cause the effective tax rate to higher than the rollback tax rate. 2018 maintenance and operations (M&O) tax rate. $0.6050/$10 2018 adjusted taxable value. Enter the amount from Line 11. $3,162,572,15 .2018 M&O taxes. Multiply Line 26 by Line 27 and divide by $100. 1 $19,133,561 Cities, counties and hospital districts with additional sales tax: Amount of additional les tax collected and spent on M&O expenses in 2018. Enter amount from full year's sales � revenue spent for M&O in 2018 fiscal year, if any. Other taxing units enter 0. Counties elude any amount that was spent for economic development grants from the amount of les tax spent, Counties: Enter the amount for the state criminal justice mandate. If second or later year, amount is for increased cost above last year's amount. Other taxing units enter 0. Transferring function: if discontinuing all of a depailincrit, function or activity and usferring it to another taxing unit by written contract, enter the amount spent by the taxing it discontinuing the function in tile 12 months preceding the month of this calculation. If taxing unit did not operate this function for this 12 -month period, use the amount spent the last full fiscal year in which the taxing unit operated tile function. The taxing unit ;continuing the function will subtract this amount in H below. The taxing unit receiving function will add this amount in H below, Other taxing units enter 0. Taxes refunded for years preceding tax year 2018: Enter the amount of M&O taxes 'landed in the preceding year for taxes before that year. Types of refunds include court $255,063 visions, Tax Code Section 25.25(b) and (c) corrections and Tax Code Section 31.11 yment errors. Do not include refunds for tax year 2018. This line applies only to tax years -ceding tax year 2018. Enhanced indigent health care expenditures: Enter the increased amount for the rrent year's enhanced indigent health care expenditures above the preceding tax year's $0 hanced indigent health care expenditures, less any state assistance. . Taxes in TIF: Enter the amount of taxes paid into the tax increment fund for a investment zone as agreed by the taxing unit. If the taxing unit has no 2019 captured $1,417,801 )praised value in Line 1613, enter 0. 1 I. Adjusted M&O Taxes. Add A, B, C, E and F. For taxing unit with D, subtract if iscontinuing function and add if receiving function. Subtract Cr. 1 $17,970,823