Page 56 - Microsoft Word - Budget FY 19

CITY OF FOREST HILL

AD VALOREM TAXES – PROPOSED TAX RATE

The proposed fiscal year (FY) 2018‐2019 tax rate is $.992873 per $100 valuation. This is an increase from last year’s
adopted tax rate. The effective tax rate is based on a tax rate that would produce the same amount of taxes if
applied to the same properties taxed in both years. For the FY 2017‐2018, the published effective rate is equivalent
to $.914701 per $100 assessed valuation. The proposed rate of $.992873 is the sum of two components, the
maintenance and operations (M&O) rate (0.861908) plus the interest and sinking (I&S) rate (0.130965) which
combines to equal the overall tax rate.

AD VALOREM TAXES –COLLECTIONS

For the fiscal year 2018‐2019, the property tax levy will amount to approximately $5,098,534 an
increase of 16.27% of the previous fiscal year’s tax levy amount of $4,384,941.

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