Page 47 - City of Lake Worth Ord 1220 FY22 Adopted Budget
P. 47
SECTION 6: De Minimis Rate
The de minirnis rate is the rate equal to the sum of the no -new -revenue maintenance and operations rate, the rate that will raise $500,00%
and the current debt rate for a taxing unit.44
This section should only be completed by a taxing unit that is a municipality of less than 30,000 or a taxing unit that does not meet the
definition of a special taxing unit.45
De Minimis•Rate Worksheet Amount/Rate
68. Adjusted 2021 NNR M& O tax rate. Enter the rate from Line 39 of the VoterApproval
0. 197946/$ 100
Tax Rate Worksheet
69. 2021 total taxable value. Enter the amount on Line 21 of the No -New -Revenue Tax
56033113292
Rate Worksheet,
70. Rate necessary to impose $500,000 in taxes. Divide $500,000 by Line 69 and multiply
0.089236
by $100.
71. 2021 debt rate. Enter the rate from Line 48 of the VoterApproval Tax Rate Worksheet. 0.255788/$ 100
72. De minimis rate.23 Add Lines 68, 70 and 71. 0.542970/$ 100
Tex. Tax Code Section 26.012(8- a)
45Tex. Tax Code Section 26.063(a)( 1)
Ordinance No. 1220
Page 43 of 45
