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2020-2021 Notice of Tax Rates in City of Elkhart, Texas

9/9/2020

2020-2021 Notice of Tax Rates in

City of Elkhart, Texas

 

Property Tax Rates in City of Elkhart. This notice concerns the FY 2020-2021 property tax rates for City of Elkhart. This notice provides information about two tax rates. The no-new-revenue tax rate would Impose the same amount of taxes as last year if you compare properties taxed in both years. 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:

 

Last year's adjusted taxes
(after subtracting taxes on lost property)

$114,453

 

This year's adjusted taxable value
(after subtracting value of new property)

$38,926,459

=

This year's no-new-revenue tax rate

0.294023/$100

+

This year's adjustments to the no-new-revenue tax rate

$0 /$100

=

This year's adjusted no-new-revenue tax rate

0.294023/$100

 

This is the maximum rate the taxing unit can propose unless it publishes a notice and holds a hearing.

 

 

 

This year's voter-approval tax rate:

 

Last year's adjusted operating taxes
(after adjusting as required by law)

$106,737

 

This year's adjusted taxable value
(after subtracting value of new property)

$38,926,459

=

This year's voter-approval operating tax rate

0.274201/$100

×

(1.035 or 1.08, as applicable) = this
year's maximum operating rate

0.283798/$100

+

This year's debt rate

0.019128/$100

+

The unused increment rate, if applicable

0.000000/$100

=

This year's total voter-approval tax rate

0.302926/$100

 

This is the maximum rate the taxing unit can adopt without an election for voter approval.