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CITY OF LA PORTE, TEXAS <br /> Management's Discussion and Analysis <br /> For the Year Ended September 30, 2010 <br /> ECONOMIC FACTS AND NEXT YEAR'S BUDGETS AND RATES <br /> The unemployment rate for the City of La Porte is currently 8.3 percent, which is a decrease from a rate of 9.4 <br /> percent a year ago. This compares to the state's average unemployment rate of 8.1 percent which is Tess than <br /> the national average rate of 9.1 percent. During the upcoming year, the City will closely monitor the volatility in <br /> the housing market. Although our area has not been adversely affected by home foreclosures, we will observe <br /> future economic changes. Total assessed property value for all residential and commercial property in the City <br /> of La Porte exceeded $2.0 billion for fiscal year 2010. The trend for total assessed property values has been <br /> steadily increasing each year with an average annual increase of 6 percent over the past 5 years. However, in <br /> the upcoming fiscal year, we anticipate that residential and commercial values will decrease by 3% to 5% Sales <br /> tax receipts have increased 6% this fiscal year. <br /> Assessed Property Valuations Sales Tax Collections <br /> (in billions) (in millions) <br /> 3 6 <br /> r <br /> 2.55 5 :v �,E; <br /> 2 r <br /> 1.5 3 <br /> ga g M r aSS"F s r <br /> e 2 , <br /> 0.5 1 w y <br /> �y <br /> r,» 0 <br /> 0 <br /> 2006 2007 2008 2009 2010 2006 2007 2008 2009 2010 <br /> REQUEST FOR INFORMATION <br /> This financial report is designed to provide our citizens, customers and creditors a general overview of the City's <br /> finances. Questions concerning any of the information provided in this report or requests for additional <br /> information should be addressed to the Director of Finance, 604 West Fairmont Parkway, La Porte, Texas, <br /> 77571. <br /> 23 <br />