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This notice concerns 2008 property tax rates for the City of Bastrop. It presents information about three tax rates. Last year’s tax rate is the actual 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 can start tax 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 operating taxes
Last year's debt taxes
Last year's total taxes
Last year's tax base
Last year's total tax rate
This Year's EffectiveTax Rate:
Last year's adjusted taxes
(after subtracting taxes on lost property)$2,603,081 ÷ This year's adjusted tax base
(after subtracting taxes on new property)$517,877,035 = This year's effective tax rate (maximum rate unless unit publishes notices and holds hearing.)
$0.5026 / $100
Last year's adjusted operating taxes
(after subtracting taxes on lost property and adjusting for any transferred function, tax increment financing, state criminal justice mandate and/or enhanced indigent health care expenditures)
$955,498 ÷ This year's adjusted tax base
$517,887,035 = This year's effective operating rate
$0.1845 / $100 x 1.08 = this year's maximum operating rate
$0.1993 / $100 + This year's debt rate
$0.3985 / $100 = This year's rollback rate
$0.5978 / $100 Statement of Increase/Decrease
If the City of Bastrop adopts a 2008 tax rate equal to the effective tax rate of $0.5026 per $100 of value, taxes would increase compared to 2007 taxes by $13,571.
Schedule A
Unencumbered Fund Balances
The following estimated balances will be left in the unit's property tax accounts at the end of the fiscal year. These balances are not encumbered by a corresponding debt obligation.
Type of Property Tax Fund Balance General Fund
Schedule B
2008 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).
Description of Debt Principal or Contract Payment to be Paid from Property Taxes Interest to be Paid from Property Taxes Other Amounts to be Paid Total Payment G.O. Series 1997 $310,000 $67,440 $0 $377,440 G.O. Series 1999 $70,000 $20,975 $0 $90,975 G.O. Series 2001 $130,000 $110,455 $0 $240,455 G.O. Series
2002$110,000 $91,868 $0 $201,868 G.O. Series
2003$10,776 $12,061 $0 $22,837 G.O. Series
2004$70,000 $106,888 $0 $176,888 G.O. Series
2005$100,000 $81,107 $0 $181,107 G.O. Series
2006$10,000 $13,992 $0 $23,992 G.O. Series
2007$45,000 $48,858 $0 $93,858 G.O. Series
2008$93, 752 $155,000 $0 $248,752 PPAD-
2004$65,000 $9,263 $0 $74,263 PPAD-
2004 consol.$26,728 $4,398 $0 $31,126 C.O. Series
2006$95,000 $24,616 $0 $119,616 C.O. Series
2007$85,000 $92,011 $0 $177,011 C.O. Series
2008$0 $62,433 $0 $62,433 Tax Notes 2006 $30,000 $6,177 $0 $36,177 Tax Notes 2008 $100,000 $16,830 $0 $116,830
$2,275,628 - Amount (if any) paid from funds listed in Schedule A
$0 - Amount (if any) paid from other resources
$140,948 - Excess collections last year
$55,665 = Total to be paid from taxes in 2008
$2,079,015 + Amount added in anticipation that the unit will collect only 95% of its taxes in 2008
$109,422 = Total Debt Levy
$2,188,437 This notice contains a summary of actual effective and rollback tax rates' calculations.
You can inspect a copy of the full calculations at 904 Main Street, Bastrop, Texas 78602.
Name of the person preparing this notice: Lamar A. Ozley
Title: Finance Director
Date prepared: August 1, 2008Return to the City of Bastrop Home Page | Return to Finance Department