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<br />4/14/2005 <br /> <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 2004 Tax Year <br /> <br />Data Entry Area: <br /> Enter the Amount of Taxes Billed on Property located in the Zone $59,348.26 <br /> Enter the Amount of Billed Taxes which have not been collected $13,868.16 <br /> Enter the City's Tax Rate (.71 = .71 Cents per $100) $0.0071 <br />1 Calculation of the Collection Rate for Property in the TIRZ <br /> a Total Taxes Billed on Property Located in the TIRZ $59,348.26 { <br /> (' <br /> b Less Total Delinquent Taxes on Property Located in the TIRZ $13,868.16 <br /> c Equals Total Taxes Collected on Property in the TIRZ $45,480.10 <br /> d Divided by the Total Taxes Billed on Property Located in the TIRZ $59,348.26 <br /> e Equals the Collection Rate for Taxes in the TIRZ 76.63% <br />2 Calculation of the Captured Appraised Value <br /> a Total Taxes Billed on Property Located in the TIRZ $59,348.26 <br /> b Divided by the City's Tax Rate $0.0071 <br /> c Equals the Total Appraised Value for the Current Year 8,358,910 <br /> d Less the Tax Increment Base (1999) Value 6,362,980 <br /> e Equals the Captured Appraised Value 1,995,930 <br />3 Calculation of the Amount Due the TIRZ by the City <br /> a Captured Appraised Value 1,995,930 <br /> b Times City's Tax Rate $0.0071 <br /> c Equals Total Taxes applicable to the Captured Appraised Value $14,171.10 <br /> d Times the City's Collection Rate 76.63% <br /> e Equals the Total Taxes due the TIRZ by the City of La Porte $10,859.68 ;... ~. 1 <br /> I <br /> <br />:~ ,. <br /> <br />"" '\ <br />