Form 50-212
Notice About 2021 Tax Rates Property Tax Rates in
City of Forney
This notice concerns the 2021 property tax rates for City of Forne y. This notice provides information about two tax rates used in adopting the current tax year’s tax rate. The no-new-revenue tax rate would Impose the same amount of taxes as last year if you compare properties taxed in both years. In most cases, the voter-approval tax rate is the highest tax rate a taxing unit can adopt without holding an election. In each case, these rates are calculated by dividing the total amount of taxes by the current taxable value with adjustments as required by state law. The rates are given per $100 of property value. Taxing units preferring to list the rates can expand this section to include an explanation of how these tax rates were calculated.
This year’s no-new-revenue tax rate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $0.517804/$100 This year’s voter-approval tax rate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $0.552199/$100 To see the full calculations, please visit forne ytx.gov for a copy of the Tax Rate Calculation Worksheet.
Unencumbered Fund Balances The following estimated balances will be left in the taxing unit’s accounts at the end of the fiscal year. These balances are not encumbered by corresponding debt obligation. Type of Fund
Balance
General Fund
1,700,000
$
Utility Fund
1,000,000
Current Year Debt Service The following amounts are for long-term debts that are secured by property taxes. These amounts will be paid from upcoming property tax revenues (or additional sales tax revenues, if applicable). Principal or Contract Payment to be Paid From Property Taxes
Description of Debt
Pass Through Toll Revenue 2008
$
Interest to be Paid From Property Taxes $
General Obligation Restructure 2011
149,312.50
Other Amounts to be Paid $
Total Payment $
149,312.50
38,887.50
38,887.50
195,000
4,680
199,680
Certificates of Obligation 2012
50,000
15,7000
65,700
Certificates of Obligation 2014
235,000
118,412.50
353,412.50
General Obligation Refunding 2014
220,000
18,900
238,900
General Obligation Refunding 2012
329,475
329,475
1,540,000
50,050
1,590,050
105,000
54,281
159,281
1,530,000
262,200
1,792,200
General Obligation Refunding 2015 General Obligation Refunding 2016 Certificates of Obligation 2016 Subordinate Lien Pass Through Toll Revenue 2017 Tax Notes 2017
300,000
23,400
323,400
General Obligation Refunding 2020
395,000
68,919
463,919
50-212 • 08-20/18
Notice of Tax Rates
Total required for
2021
debt service. . . . . . . . . . . . . . . . . . . . . . . . . . . $ 6,002,075
Form 50-212
– Amount (if any) paid from funds listed in unencumbered funds . . . . . . . . . . $ 0 – Amount (if any) paid from other resources . . . . . . . . . . . . . . . . . . . . . . . . . . $ 0 – Excess collections last year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 469,972 = Total to be paid from taxes in 2021 . . . . . . . . . . . . . . . . . . . . . . $ 5,532,103 + Amount added in anticipation that the taxing unit will collect only 99.37 % of its taxes in 2021 . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 0 =
Total Debt Levy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 5,532,103
For additional copies, visit: comptroller.texas.gov/taxes/property-tax
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50-212 • 08-20/18
Notice of Tax Rates
Form 50-212
For additional copies, visit: comptroller.texas.gov/taxes/property-tax
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50-212 • 08-20/18