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<br />..,v. rIVI"'I'J IlIA ftllftoa
<br />!n City of La Port. ..
<br />
<br />This nolice concerns 2002 prop.,ny ..;. nileS for City of La Porte~ts
<br />infonnalion ibout ~e lax rala. Last year's laX rale is 1b2 actual rale lhc laXing unit
<br />used 10 delermine properly !axes lat year. This year's c1Tectivc laX rale would impose
<br />lhc same t01a1 laXes a lISt yc8r if you compare propcnies taxed in bblb yean. This
<br />yat's rollback laX rale is the highest laX rate the Iaxinll unit can set bclbn: laXpaycn
<br />can start laX rolllleek proccdutel. In each case these ralcs ore found by dividing the
<br />tolal emount of !axes by the laX base (the IOIaI viluc of taxable propcny) with
<br />~djustmcnu a required by Slale law. The rala are givCll Jm' 5100 of properly value.
<br />Last year'. tu rate:
<br />Last yat's operating taxes
<br />Lasl yat's debt laX..
<br />Lasl year's IOlallaXes
<br />Last year's laX base
<br />Last ycar'. tolallaX rale
<br />nb year'. errectlve Ills rate:
<br />Last yat'. adjusted laX..
<br />(siler subb'ICting taXes on lost property)
<br />
<br />I Thi. year's adjusted laX base
<br />(siler subb'ICting v.luc of new properly)
<br />-.lbiiyean"effCctiv"ctaX'r.te-i1" ~';j"_. 4..~.'.'
<br />
<br />x 1.03"'111l1Ximum rale unl..s unit publish..
<br />notic.. and holds hearing
<br />This y.ar'. rollback Ills rat.:
<br />Last ycar'. adju.ted operating laXes (aner
<br />subtracting tax.. on lost property and adjusting for
<br />any Innsfened function, laX increment Iinancing,
<br />and/or enhanced indigCllt health care expcn!lilUres)
<br />This yat's adjusted laX base
<br />a This year's errective operating rale
<br />x 1.08 - Ibis year's maximum Operatin8 rate
<br />+ This yat's debt rale
<br />- Thi. year's roll~bate
<br />
<br />5 ement of Incr..HID.c......
<br />ICCityofLa Porte.d . 2f2 tax rale equal 10 theerrective tax raleofSO.111 per
<br />5100 of value, laX.. din compared IOpflaXCS by S210,420.
<br />
<br />~'u/~
<br />- .n.um red Funci).lanc.. .
<br />
<br />The following estimated balances will in the unit" propeny tax accounta atlbe
<br />end oflhc 11..al year. These balanc.. are not encumbered by a .orresponding debt
<br />obligation.
<br />
<br />Type of Property Tax Fuod
<br />
<br />Schedul. B
<br />2002 D.bt 5.....1..
<br />The unit plans 10 pay the following amolOllS for 10"l-lenn debta that are secured by
<br />properly taxes. These amounta will be paid from properly tax revCllues (or additional
<br />sal..tax revenues, ifsppli.able).
<br />
<br />Principal or .
<br />Contract Paym.nt
<br />D.s.rlpl/on to be Paid from
<br />.~~!!~rop.rty Taxes
<br />Oeneral 515,000
<br />Operatin8
<br />Bonds 1990
<br />
<br />General Fund
<br />Debt Service Fund
<br />
<br />loterat to be
<br />Paid from
<br />Prop.rty
<br />Taxes
<br />
<br />52,625
<br />
<br />e
<br />
<br />58,669,138 .
<br />52,035,363
<br />510,104,501
<br />51,501,616,197'
<br />0.7101$100
<br />
<br />510,651,252
<br />
<br />5 I ,484,350,506
<br />
<br />o:uMIOO
<br />0.1381$100
<br />
<br />.'.1 ~.~
<br />
<br />58,625,837
<br />
<br />51,484,350,506
<br />0.5811S100
<br />0.6211$100
<br />'O.1351S100
<br />0.7621S100
<br />
<br />Balance
<br />
<br />56,494,950
<br />51,530,281
<br />
<br />Otber
<br />Amounts
<br />to b. Paid
<br />
<br />Total
<br />Paymeot
<br />577,625
<br />
<br />so
<br />
<br />General 5 J ,090,000 5125,305 SO 51,215,305
<br />Operating
<br />Refunding
<br />Bonds 1!1!14
<br />General 5125,000 5!1!1,844 50 5224,844
<br />Operating
<br />Bonds 1995
<br />General 5150,000 5165,344 50 5315,344
<br />Operating
<br />Bonds 2000
<br />Conilicale of 5150,000 5151,050 SO 5301,050
<br />Obligalions
<br />Bonds 2000
<br />General SO 5279,818 SO 5219,87S
<br />Operaling
<br />Bonds 2002
<br />Total required for 2002 debt servi.e 52,414,045
<br />- Arnounl (if any) paid tTom funds listed in Schedule A SO
<br />Amounl (if any) paid from other resou",.. 5350,050
<br />Excess collections /lSt year 50
<br />- TOIa/lo be paid from taxes in 2002 52.063,99S
<br />+. Amounl added in anli.ipatim thatlhe unil will
<br />collect only 100.000/. of ita tax.. in 2002 SO
<br />- Total debt levy 52,063,995
<br />
<br />This notice contains a summary of aClual errective and rollback lllx rala' ..I.ulations.
<br />You can inspect a .opy oUhe full cal.ulalioRS al604 W Fairmonl Parkway, La Porte,
<br />Texa 77571.
<br />
<br />Name of person preparing this noli.e: Kalherine R. Powell
<br />Tille: Tax Manaser
<br />Dale preuared: AU."'I I J. 2M'
<br />
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