• Published Date

    August 5, 2018
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2018 PROPERTY TAX RATES IN GRAYSON COLLEGE This notice concems the 2018 property tax rates for GRAYSON COLLEGE. It presents information about three tax rates. Last year's tax rate is the actual tax 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 rouback tax rate is the highest tax rate the taxing unit can set before taxpayers start 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 Last year's debt taxes Last year's total taxes Last year's tax base Last year's total tax rate $11,435,713 $3,329,508 $14,765,221 $8,148,576,711 $0.181200/$100 This year's effective tax rate: Last year's adjusted taxes (after subtracting taxes on lost property) This year's adjusted tax base (after subtracting value of new property) This year's effective tax rate $14,718,582 $8,644,876,686 0.170257/$100 - Maxmum rate unless unit publishes notices and holds hearings.) This year's rollback tax rate: Last year's adjusted operating taxes $11,397.797 (after subtracting taxes on lost property and adjusting for any transferred function, tax increment financing, state criminal justice mandate andor enhanced indigent health care expendi tures This year's adjusted tax base -This year's effective operating rate x 1.08 this year's maximum operating rate +This year's debt rate $8,644,876,686 $0.131845/$100 $0.142392/$100 $0.034943 S100 $0.177335/$100 This year's total rollback rate Statement of Increase/Decrease If GRAYSON COLLEGE adopts a 2018 tax rate equal to the effective tax rate of $0.170257 per S100 of value, taxes would increase compared to 2017 taxes by $488,372 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 Estimated Balancefor M80 $19,097,179 Estimated Balance for l&S $2,350.991 Schedule B-2018 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 Paid from Property Other Amounts to be Paid SO DescriptionContract to be Paid from Property Taxes Total Payment $3,130,625 of Debt GO REFUNDING SERIES, $2,005,000 2016 $1,125,625 Total Required for 2018 Debt Service -Amount (if any) paid from Schedule A -Amount (if any) paid from other resources - Excess collections last year = Total to be paid from taxes in 2018 +Amount added in anticipation that the unit will 3,130,625 SO SO SO 3,130,625 SO collect only 100.00% of its taxes in 2018 -Total Debt Levy $3,130,625 This notice contains a summary of actual effective and rolback tax rates calculations. You can inspect a copy of the full calculations at 100 W. Houston St., Sherman, TX Name of person preparing this notice: Bruce Stidham Title: Tax Assessor Collector Date Prepared: 08/02/2018