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NOTICE ABOUT 2020 TAX RATES <br />Property Tax Rates in City of La Porte <br />This notice concerns the 2020 property tax rates for City of La Porte. This notice provides information about two tax rates. The no-new-revenue tax rate <br />would impose the same amount of taxes as last year if you compare properties taxed in both years. The voter-approval tax rate is the highest tax rate a taxing <br />unit can adopt without holding an election. In each case, these rates are calculated by dividing the total amount of taxes by the current taxable value with <br />adjustments as required by state law. The rates are given per $100 of property value. <br /> <br />This year's no-new-revenue tax rate: <br />$0.715 <br />This year's voter-approval tax rate: <br />$0.725 <br />To see the full calculations, please visit ci.la-porte.tx.us for a copy of the Tax Rate Calculation Worksheets. <br />Unencumbered Fund Balances <br />The following estimated balances will be left in the taxing unit's accounts at the end of the fiscal year. These balances are not encumbered by corresponding <br />debt obligation. <br />Type of FundBalance <br />General Fund59,073,139 <br />Debt Fund 4,552,975 <br />Current Year Debt Service <br />The unit plans to pay the following amounts for long-term debts that are secured by property taxes. These amounts will be paid from upcoming property tax <br />revenues (or additional sales tax revenues, if applicable). <br /> <br />Principal or Contract Interest to be Paid from Other Amounts to be <br />Description of Debt Total Payment <br />Payment to be Paid from <br />Property Taxes Paid <br />Property Taxes <br />General Obligation 1,350,000 192,300 0 1,542,300 <br />Refunding Bonds Series <br />2012 <br />General Obligation 920,000 126,300 0 1,046,300 <br />Refunding Bonds Series <br />2014 <br />Certificates of Obligation 385,000 160,838 0 545,838 <br />Series 2015 <br />General Obligation 0 94,050 0 94,050 <br />Refunding Bonds Series <br />2016 <br />Texas Water Development 500,000 116,491 0 616,491 <br />Board Loan 2017 <br />General Obligation 405,000 113,800 0 518,800 <br />Refunding Bonds Series <br />2020 <br />Total required for 2020 debt service4,363,779 <br />- Amount (if any) paid from funds listed in unencumbered funds 0 <br />- Amount (if any) paid from other resources 0 <br />- Excess collections last year 493,480 <br />= Total to be paid from taxes in 20203,870,299 <br />collect only 100.52% of its taxes in 2020 -20,022 <br />=Total debt levy 3,850,277 <br /> <br />This notice contains a summary of the no-new-revenue and voter-approval calculations as certified by Charlene <br />Piggott, Tax Assessor-Collector on September 1, 2020. <br />1016.1.13 <br /> <br />