City of Palestine

2017 Property Tax Rates
City of Palestine
This notice concerns 2017 property tax rates for City of Palestine. 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 $5,168,037 Last year's debt taxes $1,006,746 Last year's total taxes $6,174,783 Last year's tax base $951,591,588 Last year's total tax rate 0.648890/$100
This year's effective tax rate:
Last year's adjusted taxes (after subtracting taxes on lost property) $6,231,976 This year's adjusted tax base (after subtracting value of new property) $960,625,740 This year's effective tax rate 0.648741/$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, state criminal justice mandate and/or enhanced indigent health care expenditures) $6,229,817 This year's adjusted tax base $960,625,740 =This year's effective operating rate 0.648516/$100 x1.08 = this year's maximum operating rate 0.700397/$100 +This year's debt rate 0.150921/$100
=This year's rollback rate 0.851318/$100
A hospital district or city that collects the additional sales tax to reduce property taxes, including one that collects the tax for the first time this year, must insert the following lines: -Sales tax adjustment rate 0.050886/$100 =Rollback tax rate 0.800432/$100
Statement of Increase/Decrease
If City of Palestine adopts a 2017 tax rate equal to the effective tax rate of 0.648741 per $100 of value, taxes would increase compared to 2016 taxes by $ 14,979.
Schedule C - Expected Revenue from Additional Sales Tax
(For hospital districts, cities and counties with additional sales tax to reduce property taxes) In calculating its effective and rollback tax rates, the unit estimated that it will receive $ 490,633 in additional sales and use tax revenues. For County: The county has excluded any amount that is or will be distributed for economic development grants from this amount of expected sales tax revenue.
This notice contains a summary of actual effective and rollback tax rates' calculations. You can inspect a copy of the full alculations at 703 N. Mallard, Suite 104, Palestine, TX 75801. Name of person preparing this notice: Teri Garvey Title: Tax Assessor / Coll Date prepared: August 4, 2017

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City of Palestine

703 N. Mallard, Suite 104

Palestine TX, 75801

6544.3 miles