Notice of Effective Tax Rate - 20122010 Property Tax Rates in City of Schertz
This notice concerns 2010 property tax rates for City of Schertz. It
presents information about three tax rates. Last year's tax rate is the actual
rate the taxing unit used to determine property taxes last year. This yew's
effective tax rate would impose the same total taxes as last year if you
compare properties taxed in both years. This year's rollback tax rate is the
highest tax rate the taxing unit can set before taxpayers can start tax rollback
procedures. In each case these rates are found by dividing the total amount
of taxes by the tax base (the total value of taxable property) with
adjustments as required by state law. The rates are given per $100 of
property value.
Last year's tax rate:
Last year's operating taxes $5,856,250
Last year's debt taxes $3,090,913
Last year's total taxes $8,947,163
Last year's tax base $2,060,608,706
Last year's total tax rate 0.4342 /$100
This year's effective tax rate:
Last year's adjusted taxes $8,887,397
(after subtracting taxes on lost property)
This year's adjusted tax base $1,977,718,770
(after subtracting value of new property)
= This year's effective tax rate 0.4493 /$100
(Maximum rate unless unit publishes notices and holds hearings.)
This year's rollback tax rate:
Last year's adjusted operating taxes (after $5,817,124
subtracting taxes on lost property and
adjusting for any transferred function, tax
increment financing, state criminal justice
mandate, and/or enhanced indigent health
care expenditures)
This year's adjusted tax base $1,977,718,770
= This year's effective operating rate 0.2941 /$100
x 1.08 =this year's maximum operating rate 0.3176 /$100
+ This year's debt rate 0.1500 /$100
=This year's total rollback rate 0.4676 /$100
Statement of Increase/Decrease
If City of Schertz adopts a 2010 tax rate equal to the effective tax rate of
$0.4493 per $100 of value, taxes would increase compared to 2009 taxes
by $300,411.
Schedule A -Unencumbered Fund Balances
The following estimated balances will be left in the unit's property tax
accounts at the end of the fiscal year. These balances are not encumbered
by a corresponding debt obligation.
Type of Property Tax Fund Balance
General Fund
I & S Fund
$2,031,662
$436,082
Schedule B - 2010 Debt Service
The unit plans to pay the following amounts for long-term debts that are
secured by property taxes. These amounts will be paid from property tax
revenues (or additional sales tax revenues, if applicable).
Principal or Interest to be
Contract Payment Paid from Other
Description to be Paid from Property Amounts Total
of Debt Property Taxes Taxes to be Paid Payment
Bond SR 2007 $670,000 $306,966 $0 $976,966
Bond SR 2007B $275,000 $209,096 $0 $484,096
Bond SR 2008 $355,000 $379,650 $0 $734,650
Bond SR 2009 $140,000 $283,062 $0 $423,062
Bond SR 2001 $210,000 $141,318 $0 $351,318
Bond SR 2003 $190,000 $60,820 $0 $250,820
Bond SR 2004 $325,000 $265,008 $0 $590,008
Bond SR 2006 $0 $650,981 $0 $650,981
Total Required for 2010 Debt Service $4,461,901
- Amount (if any) paid from funds listed in Schedule A $523,000
- Amount (if any) paid from other resources $850,782
- Excess collections last year $0
=Total to be paid from taxes in 2010 $3,088,119
+ Amount added in anticipation that the unit will $0
collect only 100.00% of its taxes in 2010
= Total Debt Levy $3,088,119
This notice contains a summary of actual effective and rollback tax rates'
calculations. You can inspect a copy of the full calculations at 307 WEST
COURT ST„ SEGUIN, TEXAS.
Name of person preparing this notice: TAME MURPHY, RTA
Title: TAX ASSESSOR/COLLECTOR
Date Prepared: July 27, 2010