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<br /> TAX DATA <br /> (Year Endlng 9-30) <br /> Distribution <br /> Tax Tax General Interest and % Current % Total <br /> Year Rate Fund Sinkiny Fund Tax Levy Collections * Co 11 ecti ons <br /> 1975176 !r:3õ $1. 12 SO. 8 51,268,859 88.27% 99.27% <br /> 1976/77 1.30 1. 12 0.18 1,306,582 88.33% 102.20% <br /> 1977178 1.30 1. 12 0.18 1,366,968 90.21% 104.53% <br /> 1978179 1.30 1. 18 0.12 1,420,263 89.30% 98.99% <br /> 1979/80 1. 30 1.18 0.12 1,476,444 91. 00% 100.61% <br /> 1980/81 1.42 1.25 0.17 1,714,311 90.14% 100.76% <br /> 1981/82 1.03 0.89 0.14 1.986,801 89.23% 101. 08% <br /> 1982/83 0.65 0.59 0.06 2.391.685 90.00% 100.44% <br /> 1983/84 0.68 0.62 0.06 2,693.544 85.00% 100.50% <br /> 1984/85 0.76 0.64 0.12 3,458,491 86.32%** 87.41%- <br /> * Current calculations are calculated up to the delinquent date only. <br /> **Col1ections for part year only, through January 31,1985. <br /> Property within the City is assessed as of January 1 of each year; taxes become due October <br /> 1 of the same year. and become delinquent on February 1 of the following year. Split payments <br /> are not permitted. Discounts are not allowed. <br /> Charges for penalty and interest are made as follows: <br /> Month Penalty Interest Total <br /> February 6% 1% "7% <br /> March 7% 2% 9% <br /> April 8% 3% 11% <br /> May 9% 4% 13% <br /> June 10% 5% 15% <br /> July 12% 6% 18% <br /> MUNICIPAL SALES TAX <br /> The City has adopted the provisions of Article 1066c, Vernon's Texas Civil Statutes, as <br /> amended, which grants the City the power to impose and levy a 1% Local Sales and Use Tax <br /> within the City, the proceeds being credited to the General Fund. Collections and enforce- <br /> ments are effected through the offices of the Comptroller of Public Accounts, State of Texas, <br /> who remits the proceeds of the tax. after deduction of 2% service fee, to th~ City monthly. <br /> Revenue from this source has been: <br /> Fiscal <br /> Year % of Equivalent of <br /> Ending Total Ad Valorem Ad Valorem <br /> 09-30 Collected Tax Levy Tax Rate <br /> 19'76 $ 423.956 33.41% ---Š0.434- <br /> 1977 474,481 36.31% 0.472 <br /> 1978 545,467 39.90% 0.519 <br /> 1979 633,594 44.61% 0.580 <br /> 1980 804.033 54.46% 0.708 <br /> 1981 878,369 51.24% 0.728 <br /> 1982 1,123,309 56.54% 0.582 <br /> 1983 1,305,517 54.59% 0.355 <br /> 1984 1,535,273 57.00% 0.388 <br /> -11- <br />