• Published Date

    August 10, 2018
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NOTICE OF PUBLIC MEETING TO DISCUSS BUDGET AND PROPOSED TAX RATE The Yan Alstyne Independent School District will hold a public meeting at 5:30pm, August 13, 2018 in the Van Alstyme ISD Administration Building at 1096 N. Waco St., Van Alstyme, TX. The purpose of this meeting is to discuss the school district's budget that will determine the tax rate that will be adopted. Public participation in the discussion is invited. The tax rate that is utimately adopted at this meeting or at a separate meeting at a later date may not exceed the proposed rate shown below, unless the district pubilishes a revised notice containing the same information and comparisons set out below and holds another public meeting to discuss the revised notice. $1.12/3100 (Proposed rate for maintenance and operatons) School Debt Service Tax Approved by Local oters S0 50 $100 (Proposed rate to pay bonded indebtedness) Comparison of Proposed Budget with Last Year's Budget The applicable percentage increase or decrease (or ditterence) in the amount budgeted in the preceding fiscal year and the amount budgeted for the fiscal year that begins during the current tax year is indicated for each of the following expenditure categories Maintenance and Operations Debt Service Total Expendtures 5.42% ncrease 5.14% increase 10.56% increase Total Appraised Value and Total Taxable Value (as calculated under Tax Code Section 26.04) Preceding Tax Year Total Appraised Value of All Property Total Appraised Value of New Propert Total Taxable Value" of All Property Total Taxable Value of New Property 740,295.208 S 22,431,020 $ 614,662,197 S Current Tax Year 853,908.449 51,136883 620,463.693 50,239,808 21,974.165 Appraised Vialue" is the amount shown on the appraisal roll and defined by Tax Code Section 1.048) -Nevv Property" is defined by Ta" Code Section 26012(17 Taxable Value is defined by Tax Code Section 1.04110 Total Amount of Outstanding and Unpaid Bonded Indebtedness Outstanding Principal 83.905,772.63 Maistenance Interest & &Operations Sinking Fund Lecal Revese State Revenue Per Student Per Student Last Year's Rates Rate to Maintain Same $ 1,12000 050000 162000 S 5,963 4.03 Level of Maintenance & Operations Revenue & Pay Debt Service $ 1.13438 $ 057995 S 1.71433$ 6,720 3,772 S 1,12000 050000 162000S 6,954 4,087 Proposed Rate The Interest& Sinking Fund tax revenue is used to pay for bonded indebtedness on construction, equipment or both The bonds, and the tax rate necessary to pay those bonds, were approved by veters of this district Comparison of Proposed Levy with Last Year's Levy on Average Residence Last Year This Year Average Market Value of Residences Average Taxable Value ot Residences Last Year's Rate Versus Proposed Rate per $100 Value Taxes Due on Average Residence Increase (Decrease) in Taxes Under state law, the dollar amount of school taxes imposed on the residence homestead of a person 85 years of age or older or of the surviving spouse of such a person, if the surviving spouse was 55 years of age or older when the person died, may not be increased above the amount paid in the first year after the person turned 65, regardless of changes in tax rate or property value. S 210,424 235,407 175,015 198,487 1.62 3,215 S 380.00 162 $ 2835 S Notice of Rollback Rate: The highest tax rate the district can adopt before requiring voter approval at an election is 1.12010. This election will be automatically held if the district adopts a rate in excess ot the rollback rate of 1.12010 Fund Balances The folowing estimated balances wll remain at the end of the current fiscal year and are not encumbered with or by a corresponding debt obligation, less estimated funds necessary for operating the district before receipt of the first state ald payment: Maintenance and Operations Fund Balances Interest & Sinking Fund Balancels) S 5857,177 S 30,309