Page 28 - Crowley FY21 Budget

2020 Notice of Tax Rates in City of Crowley

Property Tax Rates in City ofCrowley. This notice concerns the 2020 property tax rates for the
City of Crowley. This notice provides information about two tax rates. The no- stew - revenue tax
rate would impose the same amount of taxes as last year ifyou compare properties taxed in both
years. The voter - approval rate is the highest tax rate a taxing unit can adopt without holding an
election. In each case, these rates are calculated by dividing die total amount of taxes by the
current taxable value with adjustments as required by state law. The rates are given by $100 of
property value.
This year's no -new- revenue tax rate:
Last years adjusted taxes $ 6,991, 227
after subtracting taxes on lost property)
This year's adjusted tax base $ 1, 040,057,500
after subtracting value of new property)
This year's no- new - revenue tax rate 0. 672196/$ 100
This year's adjustments to the no-new-revenue tax rate $ 0. 00 /$100
This years adjusted no -new- revenue tax rate 0.672196/$ 100
This is the maximum rate the taxing unit can propose unless it publishes a notice and holds a hearing.

This year' s voter - approval rate:
Last year' s adjusted operating taxes 4,939,427
after adjusting as required by late)
This years adjusted taxable value 1, 040,057, 500
after subtracting value of new property)
This year's voter - approval operating tax rate 0.474918/$ 100
x ( 1. 035 or 1. 08, as applicable) = this year' s maximum operating rate 0.512911/$ 100
This year' s debt rate 0. 186896/$ 100
The unused increment rate, ifapplicable 0.000000 /$100
This year's total voter - approval tax rate 0.699807/$ 100
This is the maximum rate the taxing unit can adopt without an election far voter approval.

Unencumbered Fund Balances
The following estimated balances will be left in the unit's property tax accounts at the end ofthe fiscal year.
These balances are not encumbered by a corresponding debt obligation.
Type of Fund Balance
Debt Service Fund 281, 922
2020 Debt Service
The taxing 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 ifapplicable).

Description of Debt Principal to be paid Interest to be paid Other amounts Total
from Property Taxes from property taxes to be paid Payment
2012 CO Bond S 225,000 S 108,975 $ 333,975
2016 CO Bond S 130,000 S 56,825 S 186,825
2018 CO Bond S 335,000 S 271, 819 S 606,819
2012 GO Refinding Bond S 95,000 $ 4,275 $ - 99,275
2012 A GO Refunding Bond S 65,000 S 5,025 70,025
2013 GO Rofiulding Bond S 215,000 $ 20,203 235,203
2017 GO Refunding Bond S 425,000 S 125, 350 550,350
Paying Agent Fees S - $ - S 2,000 S 2,000
Total required for 2020 Debt Service 2,084,472
Amount (if any) paid from finds listed in unencumbered finds
Amount (if any) paid from other resources S
Excess collections last year
Total to be paid from taxes in 2020 2,084,472
Amount added in anticipation that the unit will collect 100.000% of its taxes in 2020
Total Debt Levy 2,084,472
Tids notice contains a summary ofthe nomav- revenue and %vier- apm%al calculalions as artified by
Namuafpersonprel- ingthisnotlm: Lad%Va%on
Position: Assistant CiqManager nance Direcmr
Date Prepared: July 29, 2020