Page 130 - CityofTrophyClubFY25AdoptedBudget

Notice About 2024 Tax Rates
Property tax rates in TOWN OF TROPHY CLUB.
This notice concerns the 2024 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 $0.395728/$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 4,483,640
DEBT SERVICE FUND 103,149
TIRZ #1 FUND 2,967

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
Description of Debt Payment to be Paid Paid from Other Amounts Total Payment
from Property Taxes Property Taxes to be Paid
CO SERIES 2013 100,000 13,225 0 113,225
CO SERIES 2014 149,649 48,438 0 198,087
GO REFUNDING SERIES
245,000 5,341 0 250,341
2015
GO SERIES 2016 245,000 83,225 0 328,225
CO SERIES 2016 205,000 72,957 0 277,957
CO SERIES 2017 175,000 78,625 0 253,625
GO REFUNDING SERIES
250,000 17,980 0 267,980
2020
CO SERIES 2021 100,000 78,050 0 178,050
CO SERIES 2023 840,000 258,300 0 1,098,300

Total required for 2024 debt service $2,965,790
- Amount (if any) paid from funds listed in
unencumbered funds $0
- Amount (if any) paid from other resources $0
- Excess collections last year $364,408
= Total to be paid from taxes in 2024 $2,601,382
+ Amount added in anticipation that the unit will $0
collect only 100.00% of its taxes in 2024
= Total debt levy $2,601,382

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 08/12/2024 .
Visit Texas.gov/PropertyTaxes to find a link to your local property tax database on which you can
easily access information 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.
FY 2024-2025 122 Approved Annual Budget