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While Total Taxable Value has increased in recent years, the City's Total Tax Rate has decreased. The Texas <br />Property Tax Reform and Transparency Act of 2019 will continue to manage, or as the intended goal of the <br />Legislators might be summarized as to say "keep in check", the City's O&M Tax Rate (note: the Debt Tax Rate <br />is unaffected by this Act). <br />City of Paris Charter - Article V - Section 45(4) <br />"An analysis of the tax rate. " <br />The Operational and Maintenance as well as the Debt Service Tax Rates are decreasing in FY20/21. The <br />following represents a comparison of FYI 8/19 vs. FY 19/20 vs. FY20/21 Tax Rates: <br />Year <br />2020-21 <br />2019-20 <br />2018-19 <br />2017-18 <br />2016-17 <br />Total Taxable Value <br />$ 1,876,141,460 <br />$ 1,794,161,289 <br />$ 1,732,236,641 <br />$ 1,681,747,299 <br />$ 1,627,397,467 <br />Percent Difference <br />5% <br />4% <br />3% <br />3% <br />N/A <br />-$0.0245 <br />-$0.03089 FY19/20 vs. FY20/21 <br />Difference <br />-$0.03602 <br />-$0.03074 <br />-$0.06676 FY 18/19 vs. FY20/21 <br />O&M Tax Rate <br />0.40229 <br />0.40868 <br />0.43831 <br />0.44248 <br />0.42443 <br />Debt Tax Rate <br />0.0829 <br />0.1074 <br />0.11364 <br />0.10947 <br />0.07752 <br />Total Tax Rate <br />0.48519 <br />0.51608 <br />0.55195 <br />0.55195 <br />0.50195 <br />Percent Difference <br />-6% <br />-6% <br />0% <br />10% <br />N/A <br />While Total Taxable Value has increased in recent years, the City's Total Tax Rate has decreased. The Texas <br />Property Tax Reform and Transparency Act of 2019 will continue to manage, or as the intended goal of the <br />Legislators might be summarized as to say "keep in check", the City's O&M Tax Rate (note: the Debt Tax Rate <br />is unaffected by this Act). <br />City of Paris Charter - Article V - Section 45(4) <br />"An analysis of the tax rate. " <br />The Operational and Maintenance as well as the Debt Service Tax Rates are decreasing in FY20/21. The <br />following represents a comparison of FYI 8/19 vs. FY 19/20 vs. FY20/21 Tax Rates: <br />Year <br />O&M <br />Debt <br />Total <br />FY 18/19 <br />$0.43831 <br />$0.11364 <br />$0.55195 <br />FY19/20 <br />$0.40868 <br />$0.10740 <br />$0.51608 <br />FY20/21 <br />$0.40229 <br />$0.08290 <br />$0.48519 Preliminary <br />Difference <br />-$0.00639 <br />-$0.0245 <br />-$0.03089 FY19/20 vs. FY20/21 <br />Difference <br />-$0.03602 <br />-$0.03074 <br />-$0.06676 FY 18/19 vs. FY20/21 <br />This Tax Rate is, to the best of our determination using the Comptroller's Forms, in full compliance with Senate <br />Bill 2, also known as the Texas Property Tax Reform and Transparency Act of 2019, approved by the Texas <br />Legislature in 2019. <br />The Tax Rate shown above is Preliminary as the Chief Appraiser has not fully completed the Appraisal process. <br />In addition, we are attempting to verify our calculations using the complicated Comptroller Forms produced for <br />S132, however, we feel comfortable that our calculations will not change significantly. Ultimately, it is still <br />preliminary until the City Council approves it. <br />To calculate the Property Tax of a Home, the following formula can be used: <br />(Value of Home/100) x $0.48519 = Property Tax to be Paid <br />Example: 5100,000.00 Value Home: <br />($100,000.00/100) x $0.48519 = $1,000 x $0.48519 = $485.19 <br />Please note that the Property Tax Rates of Lamar County, Paris Junior College, and either the Paris ISD, North <br />Lamar ISD, or Chisum ISD will also affect the Property Tax to be Paid. In FY19/20, the following shows the <br />Property Tax Rates broken out by School District. <br />Page 10 of 15 <br />