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VALUATION AND DEBT INFORMATION 1985 Market (Appraised) Valuation $507,998,718 Less Local Exemptions at Market (Appraised) Value: Residence Homestead (Over 65) (1) $8,941,370 Disabled Veterans (2) 160,000 Agricultural Reductions (3) 3,243,480 12,344,850 1985 Taxable Assessed Valuation $495,653,868 City Funded Debt Payable From Ad Valorem Taxes: General Obligation Bonds (as of 10-31-85) $ 9,792,000 The Bonds 730,000 Total $ 10,522,000 Interest and Sinking Fund (as of 9-30-85) $ 428,570 Ratio Total Funded Debt to Taxable Assessed Valuation--------------------- 2.12% 1980 U. S. Census Population -- 23,420 1985 Estimated Population -- 33,345 * Per Capita Taxable Assessed Valuation - $14,864.41 Per Capita Total Debt - $315.55 Area - 14.02 Square Miles *Source: Chamber of Commerce (1) Pursuant to authority permitted by Section l-b, Article VIII of the State Constitution, which became effective January 1, 1973, the City, beginning in 1974, has granted a property tax exemption to the residence homestead of property owners over 65 years of age. (2) The Legislature, pursuant to a constitutional amendment and Article 7150h, VATCS, mandated an additional property tax exemption, beginning in 1976, for disabled veterans or the surviving spouse or children of a deceased veteran who died while on active duty in the armed forces. The exemption from taxation applies to either real or personal property with the amount of Assessed Valuation exempted ranging from $1,500 to $3,000, dependent upon the amount of disability or whether the exemption is applicable to a surviving spouse or children. (3) Reductions made to the Appraised Value of productive agricultural and open-space lands under the provisions of Article VIII, Sections l-d and l-d-l of the State Constitution. ESTIMATED FUTURE TAXABLE ASSESSED VALUATIONS 1986 $ 588,000,000 1987 670,000,000 1988 765,000,000 1989 880,000,000 1990 1,012,000,000 Source: City Tax Office - 5 -