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

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Cities, counties and hospital districts may levy a sales tax specifically to reduce property taxes. Local voters by election must approve imposing or abolishing the additional sales tax. If approved, the taxing unit must reduce its effective and rollback tax rates to offset the t, expected sales tax revenue. This section should only be completed by a county, city or hospital district that is required to adjust its effective tax rate and/or rollback tax rate because it adopted the additional sales tax, 2777a �FR/73,777717 a �7177 7" rsrn 41. Taxable Sales. For taxing units that adopted the sales tax in November 2018 or May 2019, enter the Comptroller's estimate of taxable sales for the previous flour quarters, 20 Estimates of taxable sales may be obtained through the Comptroller's Allocation Historical $0 Summary webpage. Taxing units that adopted the sales tax before November 2018, skip this line. c spent for 42. Estimated sales tax revenue. Counties exclude any amount that is or will be economic development grants from the amount of estimated sales tax revenue,21 Taxing units that adopted the sales tax in November 2018 or in May 2019. Multiply the amount on Line 41 by the sales tax rate (.01, .005 or .0025, as applicable) and multiply the result by .95.22 $0 - or - Taxing units that adopted the sales tax before November 2018. Enter the sales tax revenue for the previous four quarters. Do not multiply by .95. 43. 2019 total taxable value. Enter the amount from Line 37 of the Rollback Tax Rate $3,229,326,398 Worksheet. 44. Sales tax adjustment rate. Divide Line 42 by Line 43 and multiply by $100. $0.0000/$100 45. 2019 effective tax rate, unadjusted for sales tax.23 Enter the rate from Line 24 or 25, $0.6851/$100 as applicable, on the Effective Tax Rate Worksheet. 46. 2019 effective tax rate, adjusted for sales tax. Taxing units that adopted the sales tax in November 2018 or in May 2019. $0.6851/$100 Subtract Line 44 from Line 45. Skip to Line 47 if you adopted the additional sales tax before November 201 S. 47. 2019 rollback tax rate, unadjusted for sales tax.24 Enter the rate from Line 39 or 40, $0.7282/$100 as applicable, of the Rollback Tax Rate Worksheet. 48. 2019 rollback tax rate, adjusted for sales tax. Subtract Line 44 from Line 47. $0.7282/$100 17'1'cx. 'Fax Code Section 26,012(17) 1191'ex, Tax Code Section 26.04(c) 1 91'ex. Tax Code Section 26.04(d) 20'rex, 'Fax Code Section 26.041(d) 2 1 Tex. 'Fax Code Section 26.041(i) 221,ex Tax Code Section 26.041(d) 2-11'ex. Tax Code Section 26.04(c) 24,rex, Tax Code Section 26.04(c)