www.houstontx.gov > 2008 Property Tax Rates in the City of Houston

2008 PROPERTY TAX RATES IN THE CITY OF HOUSTON

THIS NOTICE CONCERNS 2008 PROPERTY TAX RATES FOR THE CITY OF HOUSTON. 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
$599,210,620
LAST YEAR'S DEBT TAXES
$235,773,604
LAST YEAR'S TOTAL TAXES
$834,984,224
LAST YEAR'S TAX BASE
$129,706,287,223
LAST YEAR'S TOTAL TAX RATE
$0.64375/$100
This Year's Effective Tax Rate
LAST YEAR'S ADJUSTED TAXES (AFTER SUBTRACTING TAXES ON LOST PROPERTY)
$831,997,201
DIVIDED BY THIS YEAR'S ADJUSTED TAX BASE (AFTER SUBTRACTING VALUE OF NEW PROPERTY)
$135,244,963,099
= THIS YEAR'S EFFECTIVE TAX RATE
$0.615177/$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)
$597,067,041
DIVIDED BY THIS YEAR'S ADJUSTED TAX BASE
$135,244,963,099
= THIS YEAR'S EFFECTIVE OPERATING RATE
$0.441471/$100
x 1.08 = THIS YEAR'S MAXIMUM OPERATING RATE
$0.476788/$100
+ THIS YEAR'S DEBT RATE
$0.183062/$100
= THIS YEAR'S ROLLBACK RATE
$0.659850/$100

STATEMENT OF INCREASE/DECREASE
IF THE CITY OF HOUSTON ADOPTS A 2008 TAX RATE EQUAL TO THE EFFECTIVE TAX RATE OF $0.615177 PER $100 OF VALUE, TAXES WOULD INCREASE COMPARED TO 2007 TAXES BY $20,302,456.

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
GENERAL FUND (FY2009)
$170,826,000
GENERAL DEBT SERVICE FUND (FY2009)
$157,132,000

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
SERIES
PRINCIPAL PAYMENTS
SCHEDULED INTEREST
TOTAL PAYMENTS
PUBLIC IMPROVEMENT BONDS
Public Improvement Bonds
1998A
.
1,203,125
1,203,125
Public Improvement Bonds
1999A
10,150,000
1,015,538
11,165,538
Public Improvement Bonds
2000
11,785,000
1,445,313
13,230,313
Public Improvement Bonds
2001A
19,340,000
5,396,700
24,736,700
Public Improvement Bonds
2001B
10,510,000
7,089,913
17,599,913
Public Improvement Bonds
2002
28,720,000
5,994,463
34,714,463
Public Improvement Bonds
2003A-1
9,575,000
4,181,775
13,756,775
Public Improvement Bonds
2003A-2
7,210,000
794,000
8,004,000
Public Improvement Bonds
2004A
27,000,000
18,824,125
45,824,125
Public Improvement Bonds
2004B
.
8,804,913
8,804,913
Tax Notes
2004C
580,000
28,781
608,781
Public Improvement Bonds
2005A
.
4,976,350
4,976,350
Public Improvement Bonds
2005B
.
398,213
398,213
Public Improvement Bonds
2005E
.
4,787,000
4,787,000
Public Improvement Bonds
2006B
.
1,085,755
1,085,755
Public Improvement Bonds
2006D
.
6,635,500
6,635,500
Public Improvement Bonds
2006E
.
1,768,400
1,768,400
Public Improvement Bonds
2006F
.
2,349,425
2,349,425
Public Improvement Bonds
2006G
1,615,000
409,031
2,024,031
Public Improvement Bonds
2007A
7,395,000
10,439,000
17,834,000
Subtotal, Public Improvement Bonds
.
133,880,000
87,627,318
221,507,318
General Obligation Comm Paper
D-G
.
38,817,000
38,817,000
Public Improvement Bonds Total
.
133,880,000
126,444,318
260,324,318
.
PENSION OBLIGATIONS
Pension Notice
2005
.
9,001,500
9,001,500
Taxable Pension Bonds
2005
.
3,035,462
3,035,462
Deferred Interest Note 05
2005
.
1,419,713
1,419,713
Deferred Interest Note 06
2006
.
1,234,625
1,234,625
Taxable Pension Bonds
2006A
.
3,510,799
3,510,799
Taxable Pension Bonds
2007A
.
3,533,244
3,533,244
Deferred Interst Note 07
2007
.
1,402,373
1,402,373
Subtotal, Pension Obligations
.
.
23,137,715
23,137,715
.
TAX & REVENUE CERTIFICATES
Tax & Revenue Certificates
2000A
.
.
.
Tax & Revenue Certificates
2001A
620,000
73,950
693,950
Tax & Revenue Certificates
2002A
560,000
439,080
999,080
Tax & Revenue Certificates
2003B
2,210,000
33,150
2,243,150
Tax & Revenue Certificates
2005C
.
165,500
165,500
Tax & Revenue Certificates
2005D
1,835,000
2,468,688
4,303,688
Tax & Revenue Certificates
2006C
.
165,750
165,750
Tax & Revenue Certificates
2007B
.
428,750
428,750
Subtotal, Tax & Revenue Certificates
.
5,225,000
3,774,868
8,999,868
.
Tax Supported Debt Service Total
.
$139,105,000
$153,356,900
$292,461,900
.
TOTAL REQUIRED FOR 2008 DEBT SERVICE
$292,461,900
- AMOUNT (IF ANY) PAID FROM FUNDS LISTED IN SCHEDULE A
$0
- AMOUNT (IF ANY) PAID FROM OTHER RESOURCES
$37,948,820
- EXCESS COLLECTIONS LAST YEAR
$0
= TOTAL TO BE PAID FROM TAXES IN 2008
$254,513,080
+ AMOUNT ADDED IN ANTICIPATION THAT THE UNIT WILL COLLECT 100% OF ITS TAXES IN 2008
$0
= TOTAL DEBT LEVY
$254,513,080

SCHEDULE C
EXPECTED REVENUE FROM ADDITIONAL SALES TAX
$0
SCHEDULE D
STATE CRIMINAL JUSTICE MANDATE (FOR COUNTIES)
$0
SCHEDULE E
TRANSFER OF DEPARTMENT, FUNCTION OR ACTIVITY
$0
SCHEDULE F
ENHANCED INDIGENT HEALTH CARE EXPENDITURES
$0

SPECIAL PROVISION
HOUSTON CODE OF ORDINANCES, SECTION 44-27, REQUIRES THE CITY OF HOUSTON TO PUBLISH AN ANALYSIS OF ANTICIPATED INCREASED REVENUES WHEN THE AD VALOREM TAX RATE PROPOSED IS EXPECTED TO INCREASE THE CITY'S AD VALOREM PROPERTY TAX REVENUES FOR THE CURRENT FISCAL YEAR IN AN AMOUNT GREATER THAN FIVE PERCENT MORE THAN THE AD VALOREM PROPERTY TAX REVENUES COLLECTED DURING THE IMMEDIATELY PRECEDING FISCAL YEAR.

.
PRECEDING FISCAL YEAR (COLLECTED*)
CURRENT FISCAL YEAR (EXPECTED*)
INCREASE
Ad Valoem Property Tax Revenues
$830,888,729
$887,228,000
6.78%
* Net of Tax Refunded for preceding years

THIS NOTICE CONTAINS A SUMMARY OF ACTUAL, EFFECTIVE AND ROLLBACK TAX RATES' CALCULATIONS. YOU CAN INSPECT A COPY OF THE FULL CALCULATIONS AT THE OFFICE OF THE CITY SECRETARY ON THE PUBLIC LEVEL OF CITY HALL ANNEX AT 900 BAGBY, HOUSTON, TEXAS.

NAME OF PERSONS PREPARING THIS NOTICE .................... SYLVIA SHAW
TITLE …..…..…………..………...…………..…................…. DEPUTY TAX ASSESSOR / COLLECTOR
DATE PREPARED .....…………………………...……….....................………. SEPTEMBER 12, 2008