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The original item was published from 8/17/2020 8:56:20 AM to 9/3/2020 12:00:04 AM.

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Posted on: August 17, 2020

[ARCHIVED] NOTICE ABOUT 2020 TAX RATES

Property Tax Rates in City of Victoria  

This notice concerns the 2020 property tax rates for City of Victoria.  This notice provides information about two tax rates.  The no-new-revenue tax rate   would impose the same amount of taxes as last year if you compare properties taxed in both years.  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:     $0.6122 

 This year’s voter-approval tax rate:     $0.6208 

To see the full calculations, please visit www.vctx.org for a copy of the Tax Rate Calculation Worksheets. 

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 FundBalance
General Fund Balance17,784,769
Special Revenue Fund Balance4,357,025
Debt Service Fund Balance1,136,663
Capital Construction Fund Balance5,729,534
Enterprise Fund Balances22,611,435
Internal Services Fund Balances3,829,873


Current Year 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 upcoming property tax  revenues (or additional sales tax revenues, if applicable).  

Description of DebtPrincipal or Contract Payment to be Paid from Property TaxesInterest to be Paid from Property TaxesOther Amounts to be PaidTotal Payment
Refunding General Obligation Bonds Series 20101,155,000145,4009171,301,317
Refunding General Obligation Bonds Series 2012375,00024,238917400,155
Certificate of Obligation Bonds Series 2012175,00086,626917262,543
Refunding General Obligation Bonds Series 2013A890,000167,2509171,058,167
Refunding General Obligation Bonds Series 2013B1,165,000109,5009171,275,417
Certificate of Obligation Bonds Series 2013390,00030,736917421,653
Certificate of Obligation Bonds Series 2014255,000156,688917412,605
Refunding General Obligation Bonds Series 20151,225,000333,0509171,558,967
Certificates of Obligation Bonds Series 2015100,00073,776916174,692
Refunding General Obligation Bonds Series 20171,385,000856,0009162,241,916
Certificate of Obligation Bonds Series 201975,00057,376916133,292
Refunding General Obligation Bonds Series 20190227,600916228,516


Total required for 2020 debt service9,469,240
Amount (if any) paid from funds listed in unencumbered funds0
Amount (if any) paid from other resources0
Excess collections last year192,513
Total to be paid from taxes in 20209,276,727
collect only 101.00% of its taxes in 2020-91,849
Total debt levy9,184,878


This notice contains a summary of the no-new-revenue and voter-approval calculations as certified by Rena Scherer PCC, Victoria County Tax Assessor Collector on August 3, 2020.

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