2008 Property Tax Rates
in the City of Alamo Heights
This notice concerns 2008 property tax rates for the City of Alamo
Heights. 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 year'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
$3,986,775
Last year's debt taxes
$426,071
Last year's total taxes
$4,412,846
Last year's tax base
$1,240,741,425
Last year's total tax rate
0.355662 /$100
This year's effective tax
rate:
Last year's
adjusted taxes
(after subtracting taxes on lost property)
$4,426,280
This year's
adjusted tax base
(after subtracting value of new property)
$1,073,816,287
= This year's
effective tax rate
0.4122201 /$100
This year's rollback tax rate:
Last year's
adjusted operating taxes (after subtracting taxes on lost property
and adjusting for any transferred function, tax increment financing,
and/or enhanced indigent health care expenditures)
$4,000,210
/ This
year's adjusted tax base
$1,073,816,287
= This
year's effective operating rate
0.372523/$100
x 1.08 =
this year's maximum operating rate
0.402324 /$100
+ This
year's debt rate
0.040071
/$100
= This
year's rollback rate
0.442395/$100
Statement of Increase /
Decrease
If the City of Alamo
Heights adopts a 2008 tax rate equal to the effective tax rate of
$0.412201 per $100 of value, taxes would increase compared to 2007
taxes by $109,020.
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
Maintenance &
Operations
$3,865,839
Schedule B
2008 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).
Description
of Debt
Principal or
Contract Payment
to be Paid from
Property Taxes
Interest to be
Paid from
Property
Taxes
Other
Amounts
to be Paid
Total
Payment
Certificates of Obligation
$240,000
$196,707
$0
$436,707
$0
$0
$0
$0
The
City of Alamo Heights has no debt
Total
required for 2008 debt service
$436,707
- Amount (if any) paid
from funds listed in Schedule A
$0
- Amount
(if any) paid from other resources
$0
- Excess collections last
year
$4,366
= Total
to be paid from taxes in 2008
$432,341
+ Amount added in
anticipation that the unit will
collect
only 98.00% of its taxes in 2008
$8,823
= Total debt levy
$441,164
This notice contains a
summary of actual effective and rollback tax rates' calculations. You
can inspect a copy of the full calculations at 6116 Broadway, Alamo
Heights, TX 78209. Name of person
preparing this notice: Cynthia Barr Title: Tax
Assessor-Collector
