Page 292 - FY2020Colleyville

TAX BASE: The total property valuations on which each taxing entity levies
its tax rates.

TAX LEVY: The total revenues to be raised by ad valorem taxes for
expenditure as authorized by the City Council.

TAX RATE: A percentage applied to all taxable property to raise general
revenues. It is derived by dividing the total tax levy by the taxable net
property valuation.

TAX ROLL: The official list showing the amount of taxes levied against each
taxpayer or property in the city. The list is provided to the city by the
Tarrant Appraisal District.

TAXABLE VALUE: Estimated value of property on which ad valorem taxes
are levied.

TAXES: Compulsory charges levied by a government for the purpose of
financing services performed for the common benefit.

TIF: Acronym for Tax Increment Financing District formed to make public
improvements under the authority of the Tax Increment District Financing
Act.

TMRS: Acronym for Texas Municipal Retirement System, a pension plan for
employees of member cities within the State of Texas.

TxDOT: Acronym for the Texas Department of Transportation, the state
agency responsible for transportation.

TRANSFERS IN/OUT: Transfers made from one City fund to another City
fund for the purposed of reimbursement of expenditures, general and
administrative services, or debt service.

U

UNENCUMBERED FUND BALANCE: The amount of fund balance which is
not reserved for a future purpose.

W

WORKING CAPITAL: Equals current assets minus current liabilities;
indicates whether an organization has enough short term assets to cover its
short term debt.

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