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Event Details

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Date:
August 21
Time:
7:00 PM
Address:
Parker City Hall
5700 E. Parker Road
Parker, TX 75002
Contact:
972-442-6811

Invite Friends

Public Hearing on 2012 Tax Rate

Tuesday, August 21

The City Council will hold two (2) Public Hearings at 7:00 p.m. at City Hall Council Chambers, 5700 E. Parker Road on the following dates: First Public Hearing – Tuesday, August 21, 2012 Second Public Hearing – Tuesday, September 4, 2012 The City Council will take action on the proposed 2012 Tax Rate on September 18, 2012 at 7:00 p.m. at City Hall Council Chambers, 5700 E. Parker Road;
2012 Property Tax Rates in City of Parker

This notice concerns the 2012 property tax rates for City of Parker. It presents information about three tax rates. Last year’s tax rate is the actual tax rate the taxing unit used to determine property taxes last year. This year’s effective tax rate would impose the same total taxes as last year if you compare properties taxed in both years. This year’s rollback tax rate is the highest tax rate the taxing unit can set before taxpayers start rollback procedures. In each case these rates are found by dividing the total amount of taxes by the tax base (the total value of taxable property) with adjustments as required by state law. The rates are given per $100 of property value.

Last year’s tax rate:

 Last year’s operating taxes $1,554,108

Last year’s debt taxes $337,949

Last year’s total taxes $1,892,057

Last year’s tax base $501,765,408

Last year’s total tax rate $0.377080/$100

This year’s effective tax rate:

 Last year’s adjusted taxes

(after subtracting taxes on lost property) $1,885,228

÷ This year’s adjusted tax base

(after subtracting value of new property) $503,596,159

=This year’s effective tax rate $0.374353/$100 (Maximum rate unless unit publishes notices and holds hearings.)

This year’s rollback tax rate:

 Last year’s adjusted operating taxes

(after subtracting taxes on lost property and adjusting for any
transferred function, tax increment ?nancing, state criminal justice

mandate, and/or enhanced indigent healthcare expenditures)

 $1,548,502
÷ This year’s adjusted tax base

 $503,596,159
=This year’s effective operating rate

 $0.307489/$100
x 1.08=this year’s maximum operating rate

 $0.332088/$100
+ This year’s debt rate

 $0.070677/$100
= This year’s total rollback rate

 $0.402765/$100
Statement of Increase/Decrease

If City of Parker adopts a 2012 tax rate equal to the effective tax rate of $0.374353 per $100 of value, taxes would increase compared to 2011 taxes by $41,721.

 Schedule A - Unencumbered Fund Balance

The following estimated balances will be left in the unit’s property tax accounts at the end of the ?scal year. These balances are not encumbered by a corresponding debt obligation.

Type of Property Tax Fund Balance

Maintenance & Operations 3,400,000

Interest & Sinking 81,500

 Schedule B - 2012 Debt Service

The unit plans to pay the following amounts for long-term debts that are secured by property taxes. These amounts will be paid from property tax revenues (or additional sales tax revenues, if applicable).
Principal or Contract

 Interest to be

Description of Debt Payment to be Paid

 Paid from

 Other Amounts

 Total Payment
from Property Taxes

 Property Taxes

 to be Paid

Regions Bank - 2010 84,050

 17,886

 0

 101,936
Refunding





Regions Bank - 2011 175,780

 87,382

 0

 263,162
Refunding





Total required for 2012 debt service $365,098

- Amount (if any) paid from Schedule A $0

- Amount (if any) paid from other resources $0

- Excess collections last year $0

= Total to be paid from taxes in 2012 $365,098

+ Amount added in anticipation that the unit will

collect only 100.00% of its taxes in 2012 $0

= Total debt levy $365,098

This notice contains a summary of actual effective and rollback tax rates’ calculations. You can inspect a copy of the full calculations at 2300 Bloomdale Rd, Ste. 2366, McKinney, TX 75071.

Name of person preparing this notice: Kenneth L. Maun

Title: Tax Assessor Collector

Date Prepared: 08/01/2012

Date Prepared: 08/01/2012

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