Page 40 - Lake Worth FY23 Adopted Budget Ord 1241

2022 Tax Rate Calculation Worksheet

Taxing Units Other Than School Districts or Water Districts

Lake Worth 817)237- 1211

Taxing Unit Name Phone (area code and number)

3805 Adam Grubb Lake Worth, Texas 76135 www.lakeworthtx.org

Taxing Unit's Address, Clty, State, ZIP Code Taxing Unit's Webslte Address

GENERAL INFORMATION, Tax Code Section 26.04(c) requires an officer or employee designated by the governing body to calculate the no -new -revenue (NNR) tax rate and

voter -approval tax rate for the taxing unit, These tax rates are expressed In dollars per $100 oftaxable value calculated. The calculation process starts afterthe chief appraiser

delivers to the taxing unit the certified appraisal roll and the estimated values ofproperties under protest. The designated officer or employee shall certify that the officer or

employee has accurately calculated the tax rates and used values shown for the certified appraisal roll or certified estimate, The officer or employee submits the rates to the

governing body by Aug. 7 or as soon thereafter as practicable.

School districts do not use this form, but Instead use Comptroller Form 50-859 TaxRate Calculation Worksheet, School District without Chapter 313 Agreements or Comptroller Form

50.884 TaxRate Calculation Worksheet, School District with Chapter313 Agreements,

Water districts as defined under Water Code Section 49.001( 1) do not use this form, but Instead use Comptroller Form 50w858 Water District Voter -Approval Tax Rate Worksheet for

Low Tax Rate and Developing Districts or Comptroller Form 50-860 Developed WaterDistrict Voter -Approval Tax Rate Worksheet,

The Comptroller's office provides thisworksheet to assist taxing units In determining tax rates.The Information provided in this worksheet is offered as technical assistance and not

legal advice. Taxing units should consult legal counsel for interpretations oflaw regarding tax rate preparation and adoption.

SECTION• '- ' ate

The NNR tax rate enables the public to evaluate the relationship between taxes for the prioryear and forthe current year based on a tax rate that would produce the same amount

of taxes (no new taxes) Ifapplied to the same properties that are taxed In both years. When appraisal values Increase, the NNR tax rate should decrease,

The NNR tax rate for a county is the sum of the NNR tax rates calculated for each type oftax the county levies,

While uncommon, It Is possible for a taxing unit to provide an exemption for only maintenance and operations taxes. In this case, the taxing unit will need to calculate the NNR tax

rate separately for the maintenance and operations tax and the debt tax, then add the two components together.

Line No -New -Revenue Tax Rate Worksheet Amount/ Rate

1. 2021 total taxable value. Enterthe amount of2021 taxable value on the 2021 tax roll today. Include any adjustments since last year's certifications

excludeTax Code Section 25.25(d) one-fourth and one-third over -appraisal corrections from these adjustments, Exclude any property value subject

to an appeal under Chapter 42 as ofJuly 25 (will add undisputed value In Line 6).Thls total Includes the taxable value of homesteads with tax cell-

Ings (will deduct In Line 2) and the captured value for tax Incrementfinancing (adjustment Is made by deductingTIF taxes, as reflected In Line 17)' 555,522,411

2, 2021 tax callings, Counties, cities and junior college districts. Enter 2021 total taxable value of homesteads with tax ceilings. These Include the

homesteads of homeowners age 65 or older or disabled. Other taxing units enter 0. Ifyour taxing unit adopted the tax ceiling provision In

prior year for homeowners age 65 or older or disabled, use this step? 0

3. r2021 ary 2021 adjusted taxable value. Subtract Line 2 from Line 1. 655,522,411

4. aladoptedtaxrate. 0.458540
S / 5100

5. 2021 taxable value lost because court appeals of ARB decisions reduced 2021 appraised value.

A. Orlglna12021 ARB values:............................................................................ $ 5,234,813

B. 2021 values resulting from final court decisions: ....................................... $ 3,9031683

C. 2021 value loss. Subtract B from A? 1, 331, 130

6. 2021 taxable value subject to an appeal under Chapter 42, as ofJuly 25.

A. 2021ARBcertified values .$ 13, 6131228 B.

2021 disputed value:................................................................................. - $ 041, 984 C,
2,

2021 undisputed value. Subtract B from A."
11,
571, 244 7.

2021 Chapter 42 related adjusted values. Add Line 5C and Line 6C. 121902, 374 Tex.

Tax Code 4 26. 012(14) Tex.

Taz Code ti 26. 012(14) Tex.

Tox Code 4 26. 012(13) Tex.

Tax Code 5 26. 011(13)