Page 77 - Trophy Club FY22 Budget

Notice About 2021 Tax Rates
Property Tax Rates in TOWN OF TROPHY CLUB
This notice concerns the 2021 property tax rates for TOWN OF TROPHY CLUB. This notice
provides information about two tax rates used in adopting the current tax year's tax rate. The no-
new-revenue tax rate would Impose the same amount of taxes as last year if you compare properties
taxed in both years. In most cases, the voter-approval tax rate is the highest tax rate a taxing unit can
adopt without holding an election. In each case, these rates are calculated by dividing the total
amount of taxes by the current taxable value with adjustments as required by state law. The rates are
given per $100 of property value.
This year's no-new-revenue tax rate: $0.437943/$100
This year's voter-approval tax rate: $0.471763/$100
To see the full calculations, please visit for a copy of the Tax Rate Calculation Worksheet.

Unencumbered Fund Balance
The following estimated balances will be left in the unit's accounts at the end of the fiscal year.
These balances are not encumbered by a corresponding debt obligation.
Type of Fund Balance
GENERAL FUND 6,750,000
DEBT SERVICE FUND 393,000
TROPHY CLUB #1 TIRZ FUND -267,000

Current Year Debt Service
The following amounts are for long-term debts that are secured by property taxes. These amounts
will be paid from upcoming property tax revenues (or additional sales tax revenues, if applicable).
Principal or Contract Interest to be Other Amounts
Description of Debt Payment to be Paid Paid from to be Paid Total Payment
from Property Taxes Property Taxes
CO SERIES 2004 33,000 4,797 0 37,797
CO SERIES 2013 255,000 33,618 0 288,618
CO SERIES 2014 115,000 59,087 0 174,087
GO REFUNDING SERIES 230,000 20,710 0 250,710
2015
GO SERIES 2016 225,000 104,075 0 329,075
CO SERIES 2016 190,000 90,506 0 280,506
CO SERIES 2017 160,000 93,475 0 253,475
GO REF SERIES 2020 450,000 28,826 0 478,826
CO SERIES 2021 640,000 120,175 0 760,175

Total required for 2021 debt service $2,853,269
- Amount (if any) paid from funds listed in
unencumbered funds $0
- Amount (if any) paid from other resources $325,360
- Excess collections last year $350,320
= Total to be paid from taxes in 2021 $2,177,589
+ Amount added in anticipation that the unit will $0
collect only 100.00% of its taxes in 2021
= Total debt levy $2,177,589

This notice contains a summary of actual no-new-revenue and voter-approval calculations as
certified by , on .

75 FY22 Approved Budget