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CITY OF LA PORTE, TEXAS <br />' Management's Discussion and Analysis <br />For the Year Ended September 30, 2004 <br />ECONOMIC FACTS AND NEXT YEAR'S BUDGETS AND RATES <br />The unemployment rate for the Houston metropolitan area is currently 6.0 percent, which is a decrease from <br />a rate of 7.0 percent a year ago. This compares identical to the state's average unemployment rate of 5.5 <br />percent which is comparable to the national average rate of 5.4 percent. The City's budgets for all funds <br />have benefited from a strong and expanding economy from the past several years, but in this coming fiscal <br />year, the City's budget has been impacted by the slow down in economic growth. Total assessed property <br />value for all residential and commercial property in the City of La Porte exceeded $1.8 billion for fiscal year <br />2004 which is 3.28% higher than last year. The trend for total assessed property values has been steadily <br />increasing each year with an average annual increase of 11.7% over the past 5 years. Sales tax receipts <br />' have grown slightly this fiscal year due to an increase in the economy. This revenue source is the most <br />volatile and subject to decline if an economic slowdown occurs. <br />J <br />1.9 <br />1.8 <br />1.8 <br />1.7 <br />1.7 <br />1.6 <br />1.6 <br />1.5 <br />1 <br />ASSESSED PROPERTY VALUATIONS SALES TAX COLLECTIONS <br />(in billions) (in millions) <br />2000 2001 2002 2003 2004 <br />2000 2001 2002 2003 2004 <br />REQUEST FOR INFORMATION <br />This financial report is designed to provide our citizens, customers and creditors a general overview of the <br />City's finances. Questions concerning any of the information provided in this report or requests for additional <br />information should be addressed to the Assistant Director of Finance, 604 West Fairmont Parkway, La Porte, <br />Texas, 77571. <br />1 <br />1 23 <br />