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While Total Taxable Value has increased in recent years, the City's Total Tax Rate has decreased except for the Proposed FY23/24 Budget. The Texas Property Tax Reform and Transparency Act of 2019 will continue to manage, or as the intended goal of the legislators might be summarized as to say "keep in check", the City's M & O Tax Rate (note: the Debt Tax Rate is unaffected by this Act). City of Paris Charter - Article V - Section 43(4) "An analysis of the tax rate. " The Maintenance and Operation tax rate is decreasing while the Debt Service Tax rate is increasing in FY23/24. The following represents a comparison of FY20/21, FY21/22, and FY22/23 vs. the Proposed FY23/24 Tax Rates: Year.. - M&O Debt Total FY20/21 $0.39788 $0.08290 $0.48078 FY21/22 $0.37357 $0.08016 $0.45373 FY22/23 $0.34377 $0.09901 $0.44278 FY23/24 $0.32176 $0.15606 $0.47782 Preliminary The following represents a comparison of these tax rates against that of the Proposed FY23/24 tax rate: FY23/24 FundFY20/21 ................ FY21/22 - ..........- _... FY22/23 ww� �.0 $0.32176 M & 0 (. $0.07612) ($0.05181) ($0.02 201) $0.15606 Debt $0.07316 $0.07590 $0.05705 $0.47782 Total ($0.00296) $0.02409 $0.03504 This Tax Rate is, to the best of our determination using the Comptroller's Forms, in full compliance with Senate Bill 2, also known as the Texas Property Tax Reform and Transparency Act of 2019, approved by the Texas Legislature in 2019. To calculate the Property Tax of a Home, the following formula can be used: (Value of Home/100) x $0.47782 = Property Tax to be Paid Example: $100,000.00 Value Home: ($100,000.00/100) x $0.47782 = $1,000 x $0.47782 = $477.82 Please note that the Property Tax Rates of Lamar County, Paris Junior College, and either the Paris ISD, North Lamar ISD, or Chisum ISD will also affect the Property Tax to be paid. In FY22/23, the following shows the Property Tax Rates broken out by School District for FY22/23. Total Taxes under Chisum ISD Taxing Entity 2022 Rate Percent of Tot al . 28 Clyof Pans $0.4425 22% Paris College amarCounty $0.3448 17% Chsum ISD $1.1128 6 $1.9753 100%....... Total Taxes under North Lamar ISD_ Taxing Entity 2022 Rate Percent of Total al City of Paris $0.4428 23% Paris Junior College $0.0749 4% Lw,narCounty $0.3448 18% North II anus I ... ......-D $1.1046 $2.0544 $1.9671 _56% 100%........... Total Taxes under Paris ISD Entity Taxing En it y 2022 Rate Percent of Total Ccty of Paris _ $0.4428 22% Paris Junior College $0.0749 _ 4% Lamar County $0.3448 17% Paris ISD $1.1919 58% $2.0544 1009/o Depending on which ISD a resident lives, the City of Paris' Property Tax Rate in 2022 (FY22/23) was either 22% or 23% of their total Property Tax Bill. The 2023 (FY23/24) Property Tax Rates are not yet known, but they are likely not to change dramatically. It should therefore be noted that when the City utilizes it's 3.5% growth as allowed by the Texas Property Tax Reform and Transparency Act of 2019, while critical to the City's Financial Policy and planned operation, it has a nearly de minimis impact as compared to the total tax bill owed by a resident. Page 18 of 23