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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 City of La Porte <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 City's Tax Rate (.71 = .71 Cents per $100) <br /> <br />$52,920.94 <br />$11,423.07 <br />$0.0071 <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 />$52,920.94 <br />$11,423.07 <br />$41,497.87 <br />$52,920.94 <br />78.41 % <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 City'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 />$52,920.94 <br />$0.0071 <br />7,453,654 <br />6,362,980 <br />1,090,674 <br /> <br />3 Calculation of the Amount Due the Tirz by the City <br />a Captured Appraised Value <br />b Times City's Tax Rate <br />c Equals Total Taxes applicable to the Captured Appraised Value <br />d Times the City's Collection Rate <br />e Equals the Total Taxes due the TIRZ by the City of La Porte <br /> <br />1,090,674 <br />$0.0071 <br />$7,743.78 <br />78.41 % <br />$6,072.27 <br />