Notice
of Public Hearings on Tax Increase
The City of Sudan will hold a public hearing on a proposal to increase total tax revenues from properties on the tax roll in the preceding tax year by 5.570078 percent (percentage by which proposed tax rate exceeds lower of rollback tax or effective tax calculated under Chapter 26, Tax Code). Your individual taxes may increase at a greater or lesser rate, or even decrease, depending on the change in the taxable value of your property in relation to the change in taxable value of all other property and the tax rate that is adopted.
The public hearing will be held on August 23, 2007, at 6:00 PM at City Hall, 111 E. 1st Ave.. A second hearing will be held on August 30, 2007 at 6:00 PM at City Hall, 111 E. 1st Ave..
The members of the governing body voted on the proposal to consider the tax increase as follows:
FOR: Marge Cardwell, Alderman; Norma Burnett, Alderman; Bobby
Phillips, Alderman; Andy Blair, Alderman
AGAINST: None
PRESENT and not voting: Mayor Sisson
ABSENT: Ed King, Alderman
Comparison of Proposed Budget with Last Year's Budget
The applicable percentage increase or decrease (or difference) 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 2.966000% (increase) or % (decrease)
Debt service 0.000000% (increase) or % (decrease)
Total expenditures 2.966000% (increase) or % (decrease)
Total Appraised Value and Total Taxable Value
as calculated under section 26.04, Tax Code
Preceding Tax Year Current Tax Year
Total appraised value* of all property $24,216,900 $24,319,480
Total appraised value* of all property** $40,390 $78,680
Total appraised value*** of all property $15,610,206 $15,733,786
Total appraised value*** of all property** $40,390 $78,680
Bonded Indebtedness
Total amount of outstanding and unpaid bonded indebtedness: $0
Tax Rates
Adopted tax rate for the preceding tax year $0.997500 per $100 in value
Proposed tax rate for the current tax year $1.050000 per $100 in value
Difference in the proposed tax rate and the
adopted tax rate for the preceding tax year $0.052500 per $100 in value
Percentage increase or decrease in the 5.263158 % Increase
proposed tax rate and the adopted tax OR
rate for the preceding tax year % Decrease
These tax rate figures are not adjusted for changes in the taxable value of property.
Comparison of Residence Homestead Values
Average appraised and taxable values on residence homesteads are compared from the preceding tax year and the current tax year.
Preceding Tax Year Current Tax Year
Average residence homestead appraised value $33,762 $33,296
Homestead exemption amount for the taxing unit (excluding
special exemptions for persons 65 years of age or older or
disabled) $56 $26
Average taxable value of a residence homestead (excluding
special exemptions for persons 65 years of age or older or
disabled) $33,706 $33,270
Comparison of Residence Homestead Taxes
The taxes that would have been imposed in the preceding tax year on a residence homestead at the average appraised (excluding special exemptions for person 65 years of age or older or disabled) are estimated to be $336. The taxes that would be imposed in the current tax year on the residence homestead appraised at the average appraised value in the current tax year (excluding special exemptions for person 65 years of age or older or disabled), if the proposed tax rate is adopted, are estimated to be $349. The difference between the amount of the taxes on the average residence homestead in the current tax year, if the proposed tax rate is adopted, and the preceeding tax year would be an increase of $13 of taxes.
NOTICE:
The City of Sudan will hold a public hearing on September 13, 2007, concerning the proposed budget for 2007-2008. The meeting will begin at 6:00 p.m. in the Sudan City Hall, 111 East First Avenue, Sudan, Texas.
