Page 9 - CityofNRHFY25AdoptedBudget

FISCAL YEAR 2024-2025
SCHEDULE 4 - SUMMARY OF PROPERTY TAX REVENUE AND DISTRIBUTION

NET TAXABLE VALUE: M&O I&S TOTAL
Total Appraised Value as of July 25, 2024 11,311,609,096

Less:
Absolute Exemption (567,844,680)
Cases Before ARB (187,995,381)
Incomplete Accounts (170,027,476)
Disabled Veteran (89,891,085)
Over 65 (224,053,772)
Homestead (1,152,997,324)
Disabled Persons (11,130,286)
Freeport Inventory Value Loss (17,426,612)
Pollution Control (203,432)
Solar & Wind Powered Devices (585,110)
Nominal Value Accounts (941,778)
Miscellaneous Personal Property (33,626,442)
Property Damaged by Disaster 0
In Process (186,831)

Total Reduction to Values (2,456,910,209)
NET TAXABLE VALUE AT July 25, 2024 8,854,698,887

Add:
Estimated Minimum ARB protested values 123,430,591
Estimated Minimum Incomplete Property Values 101,590,679
Estimated Minimum Value of In Process Properties 175,000

ESTIMATED NET TAXABLE VALUE AT July 25, 2024 9,079,895,157

ESTIMATED PROPERTY TAX COLLECTIONS:
Estimated Net Taxable Value 9,079,895,157
Less: TIF #3 Incremental Value (23,978,625)
Less: Tax Ceiling Taxable Values (1,597,585,336)
Net Taxable Values 7,458,331,196
Adopted Tax Rate per $100 Valuation 0.331432 0.157957 0.489389

Estimated Total Tax Levy at 100% Collection 24,719,296 11,780,946 36,500,242
Less: Estimated Uncollectable (2%) (494,386) (494,386)
Less: Estimated I&S Uncollectable (2%) (235,619) (235,619)
Estimated Revenue from Property Tax 23,989,291 11,780,946 35,770,237

Estimated Revenue from Property Tax 23,989,291 11,780,946 35,770,237
Plus: Tax Ceiling Account Revenue 5,581,812 - 5,581,812
Plus: TIF Tax Rate Differential (155,181) - (155,181)
Less: Estimated Uncollectable (2%) (111,636) - (111,636)
Less: Estimated I&S Uncollectable (2%) - - -
ESTIMATED PROPERTY TAX DISTRIBUTION 29,304,286 11,780,946 41,085,232

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