Page 9 - City of Crowley FY22 Operating Budget

2021 Tax Rate Calculation Worksheet
Crowley
Voter - Approval Tax Rate
The voter - approval tax rate is the highest tax rate that a taxing unit may adopt without holding an election to seek voter
approval ofthe rate. The voter - approval tax rate is split into two separate rates:
1, Maintenance and Operations (M &O) Tax Rate: The M&O portion is the tax rate that is needed to raise the same
amount of taxes that the taxing unit levied in the prior year plus the applicable percentage allowed by law, This rate
accounts for such things as salaries, utilities and day -to -day operations.
2, Debt Rate: The debt rate includes the debt service necessary to pay the taxing unit's debt payments in the coming
year. This rate accounts for principal and interest on bonds and other debt secured by property tax revenue.
The voter- approval tax rate for a county is the sum of the voter - approval tax rates calculated for each type of tax the county
levies, In most cases the voter - approval tax rate exceeds the no -new- revenue tax rate, but occasionally decreases in a taxing
unit's debt service will cause the NNR tax rate to be higher than the voter - approval tax rate.
0. 5129101$100
28. 2020 M &O tax rate. Enter the 2020 M &O tax rate.
29. 2020 taxable value, adjusted for actual and potential court - ordered
adjustments. Enter the amount in line 8 of the No- New- Revenue Tax Rafe
1, 138, 240, 802
Worksheet.
30. Total 2020 M &O levy, Multiply line 28 by line 29 and divide by $ 100. 5, 838, 150
31. Adjusted 2020 levy for calculating NNR M &O taxes.
A. M &O taxes refunded for years preceding tax
year 2020: Enter the amount of M &O taxes
refunded in the preceding year for taxes before
that year. Types of refunds include court decisions,
Tax Code Section 25.25( b) and ( c) corrections and
Tax Code Section 31. 11 payment errors. Do not
include refunds for tax year 2020. This line applies
only to tax years preceding tax year 2020. +$ 0
B. 2020 taxes in TIF.: Enter the amount of taxes paid
into the tax increment fund for a reinvestment
zone as agreed by the taxing unit. If the taxing unit
has no 2021 captured appraised value in Line
18D, enter 0. -$ 218, 614