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<br />Calculation of the Amount of Taxes Due the <br />Tax Increment Reinvestment Zone # 1, La Porte, TX <br />By the La Porte ISO <br />For the 2002 Tax Year <br /> <br />Data Entry Area: <br /> <br />Enter the Amount of Taxes Billed on Property located in the Zone <br />Enter the Amount of Billed Taxes which have not been collected <br />Enter the ISO's Tax Rate (1.63 = 1.63 Cents per $100) <br />'8 <br /> <br />$124,610.36 <br />$26,590.67 <br />$0.0168 <br /> <br />1 Calculation of the Collection Rate for Property in the TIRZ <br />a Total Taxes Billed on Property Located in the TIRZ <br />b Less Total Delinquent Taxes on Property Located in the TIRZ <br />c Equals Total Taxes Collected on Property in the TIRZ <br />d Divided by the Total Taxes Billed on Property Located in the TIRZ <br />e Equals the Collection Rate for Taxes in the TIRZ <br /> <br />$124,610.36 <br />$26,590.67 <br />$98,019.69 <br />$124,610.36 <br />78.66% <br /> <br />2 Calculation if the Captured Appraised Value <br />a Total Taxes Billed on Property Located in the TIRZ <br />b Divided by the ISO's Tax Rate <br />c Equals the Total Appraised Value for the Current Year <br />d Less the Tax Increment Base (1999) Value <br />e Equals the Captured Appraised Value <br /> <br />$124,610.36 <br />$0.0168 <br />7,417,283 <br />6,346,840 <br />1,070,443 <br /> <br />3 Calculation of the Amount Due the Tirz by the ISO <br />a Captured Appraised Value <br />b Times ISO's Tax Rate <br />c Equals Total Taxes applicable to the Captured Appraised Value <br />d Times the ISO's Collection Rate <br />e Equals the Total Taxes due the TIRZ by the La Porte ISO <br /> <br />1,070,443 <br />$0.0168 <br />$17,983.45 <br />78.66% <br />$14,145.95 <br /> <br />4 Breakdown of How ISO Taxes are Applied <br />a Equals the Total Taxes Due the TIRZ by the La Porte ISO <br />b Divided the Total Tax Rate for ISO <br />c Equals Taxes due the Tirz per penny of Tax Rate <br />d Times rate for General TIRZ Projects (.0086 per contract) <br />e Difference is rate for Education Facilities Projects <br /> <br />$14,145.95 <br />$0.0168 <br />$86.78 <br />$7,463.51 <br />$6,682.44 <br />