Page 78 - Trophy Club ORD 2023-15 Adoption FY23-24

TOWN OF TROPHY CLUB, TEXAS
Annual Program of Services

Notice About 2023 Tax Rates
Property tax rates in TOWN OF TROPHY CLUB.
This notice concerns the 2023 property tax rates for TOWN OF TROPHY CLUB. This notice
provides infonnation 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 $0.379140/$100
This year's voter-approval tax rate $0.415469/$100

To see the full calculations, please visit 1505 E. McKinney Street
Denton, TX 76209 for a copy of the Tax Rate Calculation Worksheet.

Unencumbered Fund Balance
The following estimated balances will be left in the taxing unit's accounts at the end of the fiscal
year. These balances are not encumbered by corresponding debt obligation.
Type of Fund Balance
GENERAL FUND 6,332,514
DEBT SERVICE FUND 107,970
TIRZ -224,233

Current Year Debt Service
The following amounts are for long-tenn 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 35,000 1,663 0 36,663
CO SERJES 2013 270,000 18,775 0 288,775
CO SERIES 2014 120,000 52,038 0 172,038
GO REFUNDING SERIES
240,000 10,573 0 250,573
2015
GO SERJES 2016 240,000 90,425 0 330,425
CO SERIES 2016 200,000 78,956 0 278,956
CO SERIES 2017 170,000 83,725 0 253,725
GO REF SERJES 2020 245,000 20,822 0 265,822
CO SERJES 2021 55,000 81,150 0 136,150
CO SERIES 2023 700,505 175,126 0 875,631

Total required for 2023 debt service $2,888,758
- Amount (if any) paid from funds listed in
unencumbered funds $0
- Amount (if any) paid from other resources $0
- Excess collections last year $392,330
= Total to be paid from taxes in 2023 $2,496,428
+ Amount added in anticipation that the unit will
$0
collect only 100.00% of its taxes in 2023
= Total debt levy $2,496,428

This notice contains a summary of actual no-new-revenue and voter-approval calculations as
certified by Michelle French, Denton County Tax Assessor/Collector on 08/01/2023 .
Visit Texas.gov/PropertyTaxes to find a link to your local property tax database on which you can
easily access infonnation regarding your property taxes, including information about proposed tax
rates and scheduled public hearings of each entity that taxes your property.

The 86th Texas Legislature modified the manner in which the voter-approval tax rate is calculated to
limit the rate of growth of property taxes in the state.

FY24 Adopted Budget 68