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2015 Property Tax Rates in City of La Porte
<br />This notice concerns the 2015 property tax rates for City of La Porte. It presents information about
<br />three tax rates. Last year's tax rate is the actual tax rate the taxing unit used to determine property
<br />effective
<br />taxes last year. This year's tax rate would impose the same total taxes as last year if you
<br />rollback
<br />compare properties taxed in both years. This year's tax rate is the highest tax rate the taxing
<br />unit can set before taxpayers start rollback procedures.In each case these rates are found by dividing
<br />the total amount of taxes by the tax base (the total value of taxable property) with adjustments as
<br />required by state law. The rates are given per $100 of property value.
<br />Last year's tax rate:
<br />Last year's operating taxes
<br />$16,998,818
<br />Last year's debt taxes
<br />$2,950,208
<br />Last year's total taxes
<br />$19,949,026
<br />Last year's tax base
<br />$2,809,721,972
<br />Last year's total tax rate
<br />$0.710/$100
<br />This year's effective tax rate:
<br />Last year's adjusted taxes
<br />$19,160,191
<br />(after subtracting taxes on lost property)
<br />÷ This year's adjusted tax base
<br />$2,668,921,930
<br />(after subtracting value of new property)
<br />=This year's effective tax rate
<br />$0.717/$100
<br />(Maximum rate unless unit publishes noticesand holds hearings.)
<br />This year's rollback tax rate:
<br />$16,158,055
<br />Last year's adjusted operating taxes
<br />(after subtracting taxes on lost property and adjusting for any
<br />transferred function, tax increment financing, state criminal justice
<br />mandate, and/or enhanced indigent healthcare expenditures)
<br />÷ This year's adjusted tax base
<br />$2,668,921,930
<br />=This year's effective operating rate
<br />$0.605/$100
<br />x 1.08=this year's maximum operating rate
<br />$0.653/$100
<br />+ This year's debt rate
<br />$0.105/$100
<br />= This year's total rollback rate
<br />$0.758/$100
<br />Statement of Increase/Decrease
<br />If City of La Porte adopts a 2015 tax rate equal to the effective tax rate of $0.717 per $100 of value,
<br />taxes would decrease compared to 2014 taxes by $-812,856.
<br />Schedule A -Unencumbered Fund Balance
<br />The following estimated balances will be left in the unit's property tax accounts at the end of the
<br />fiscal year. These balances are not encumbered by a corresponding debt obligation.
<br />Type of Property Tax FundBalance
<br />General Fund23,417,069
<br />Debit Fund2,874,001
<br />Schedule B -2015 Debt Service
<br />The unit plans to pay the following amounts for long-term debts that are secured by property taxes.
<br />These amounts will be paid from property tax revenues (or additional sales taxrevenues, if
<br />applicable).
<br />Principal or Contract Interest to be
<br />Other Amounts
<br />Description of DebtPayment to be Paid Paid from Total Payment
<br />to be Paid
<br />from Property TaxesProperty Taxes
<br />2016 Certificate of 335,000233,3360568,336
<br />Obligation Bonds
<br />2014 General Obligation 275,000259,8500534,850
<br />Refunding Bonds
<br />2012 General Obligation 80,000261,3400341,340
<br />Refunding Bonds
<br />2010 Certificat of Obligation 370,000179,6190549,619
<br />Bonds
<br />2010 General Obligation 470,00067,1630537,163
<br />Refunding Bonds
<br />2007 Certificate of 340,000148,2320488,232
<br />Obligation Bonds
<br />2006 Certificate of 300,00022,8750322,875
<br />Obligation Bonds
<br />2006 General Obligation 65,0007,365072,365
<br />Bonds
<br />2005 General Obligation 380,00024,3380404,338
<br />Bonds
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