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Posted on: August 16, 2022

NOTICE ABOUT 2022 TAX RATES

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Notice about 2022 Tax Rates

Property tax rates in City of Alvarado.

This notice concerns the 2022 property tax rates for City of Alvarado. 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.

This year's no-new-revenue tax rate                                                          $0.742571/$100

This year's voter-approval tax rate                                                              $0.750406/$100

To see the full calculations, please visit johnson.truthintaxes.com 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

M&O Fund Balance                                                      7,992,798

Debt Service Fund Balance                                          330,995

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).

Description of Debt       Principal/Contract Pay Paid from Property Taxes   Interest Paid from Property Taxes Other Amounts to be Paid Total Payment

Series 2015 CO                       150,000                                                                              88,000                                                    400                                            238,400

Series 2019 GO                       284,000                                                                               29,443                                                   400                                            313,843 

Refunding Bonds 

Series 2020 GO                        110,000                                                                              137,600                                                 500                                              248,100 

Refunding Bonds

Series 2020 CO                                     0                                                                             124,800                                                500                                               125,300

Series 2017 GO Refunding

Bonds                                                      0                                                                                78,925                                               425                                                  79,350

Total required for 2022 debt service                                                                                                                                                                                        $1,004,993

- Amount (if any) paid from funds listed in unencumbered funds                                                                                                                                                $0

- Amount (if any) paid from other resources                                                                                                                                                                                        $0

- Excess collections last year                                                                                                                                                                                                           $79,405

= Total to be paid from taxes in 2022                                                                                                                                                                                           $925,588

+ Amount added in anticipation that the unit will collect only 104.00% of its taxes in 2022                                                                                         $-35,600

= Total debt levy                                                                                                                                                                                                                               $889,988

This notice contains a summary of actual no-new-revenue and voter-approval calculations as certified by Scott Porter, Johnson County Tax Assessor-Collector on 08/15/2022 .

Visit Texas.gov/PropertyTaxes to find a link to your local property tax database on which you can easily access information regarding your property taxes, including information about proposed tax rates and scheduled public hearings of each entity that taxes your property.

The 86th Texas Legislature modified the manner in which the voter-approval tax rate is calculated to limit the rate of growth of property taxes in the state.

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