2009 Property Tax Rates in City of Ganado

This notice concerns 2009 property tax rates for City of Ganado. 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

Last year's debt taxes

Last year's total taxes

Last year's tax base

Last year's total tax rate

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

(Maximum rate unless unit publishes notices and holds hearings.)

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)

÷ 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

= This year's total rollback rate

$277,817

$30,317

$308,134

$56,455,478

$308,032

$56,575,652

$277,725

0.5458 /$100

0.5444 /$100

0.5301 /$100

0.0533 /$100

0.5834 /$100

0.4909 /$100

Statement of Increase/Decrease

If City of Ganado adopts a 2009 tax rate equal to the effective tax rate of $0.5444

per $100 of value, taxes would increase compared to 2008 taxes by $1,483.

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

Maintenance & Operations

$0

Interest & Sinking

$0

Schedule B - 2009 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

Principal or

Contract Payment

to be Paid from

Property Taxes

Interest to be

Paid from

Property

Taxes

Other

Amounts

to be Paid

Total

Payment

$23,274

$6,928

$0

$30,202

Series 2005 Bond

Total Required for 2009 Debt Service

$30,202

- Amount (if any) paid from funds listed in Schedule A

$0

$1,377

$28,825

$1,517

= Total Debt Levy

$30,342

+ Amount added in anticipation that the unit will

collect only 95.00% of its taxes in 2009

= Total to be paid from taxes in 2009

- Excess collections last year

- Amount (if any) paid from other resources