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<br />Valuation and Funded Debt History
<br /> Ratio Funded
<br />Fiscal Taxable Funded Debt Debt to
<br />Year Taxable Assessed Outstanding Taxable Funded
<br />Ended Estimated Assessed V alua tion at End Assessed Debt
<br />9-30 Popula tion Valuation p$er Capita of Year Valuation Per Capita
<br />1982 24,.500 $192,893,296 7,873 $ 1,606,000 0.8396 $ 6.5..5.5
<br />1983 26,177 367,869,077 14,0.53 1,969,000 0..5496 7.5.22
<br />1984 33,34.5 396,108,922 11 ,879 7,834,000 1.9896 234.94
<br />198.5 33,.500 4.5.5,064,.587 13,.584 10,.522,000 2.3196 314.09
<br />1986 3.5,000 .500,619,689 14,303 9,968,000 1.9996 284.80
<br />1987 34,6.50 781,212,.501 22,.546 10,000,000 1.2896 288.60
<br />1988 34,6.50 784,432,8.57 22,639 16,296,000 2.0896 470.30
<br />1989 36,900 6.5.5,114,637 17,7.54 1.5,695,000 2.4096 42.5.34
<br />1990 36,864 684,341,049 18,.564 14,94.5,000 2.1896 40.5.41
<br />1991 34,.500 6.52,831,326 18,923 17,890,000 2.7496 .518..55
<br />Tax Rate, Levy and Collection History
<br />Fiscal
<br />Year Distribution
<br />Ended Tax General Interest and 96 Current 96 Total
<br />9-30 Rate Fund Si'$kinft Fund Tax Levy ColiectionsO) Collections
<br />1982 $1.0300 $0.8900 0.1400 $1,986,801 89.2396 101.0896
<br />1983 0.6500 0.5900 0.0600 2,391,685 90.0096 100.4496
<br />1984 0.6800 0.6200 0.0600 2,693,544 85.0096 100.5096
<br />1985 0.7600 0.6400 0.1200 3,458,491 86.2896 102.9096
<br />1986 0.7600 0.6300 0 . 1300 3,804,710 85.3796 99.8596
<br />1987 0.4900 0.4100 0.0800 3,827,941 82.3096 97.9196
<br />1988 0.4900 0.3900 0.1000 3,843,721 83.5496 99.5096
<br />1989 0.5820 0.4434 O. 1386 3,812,767 87..5696 101.2.596
<br />1990 0.5972 0.4609 0.1363 4,086,884 85.9596 99.0896
<br />1991 0.5972 0.4582 0.1390 3,898,709 87.0096(2) 92.4096(2)
<br />(1) Current collections are calculated up to the delinquent date only.
<br />(2) Collections for part year only, through March 31, 1991.
<br />Property within the City is assessed as of January 1 of each year (except for business inventory which
<br />may, at the option of the taxpayer, be assessed as of September 1); taxes become due October 1 of the
<br />same year, and become delinquent on February 1 of the following year. Split payments are not permitted.
<br />Discounts are not allowed. Taxpayers 65 years old or older are permitted by State law to pay taxes on
<br />homesteads in four installments with the first due on February 1 of each year and the final installment
<br />due on August 1.
<br />Charges for penalty and interest on the unpaid balance of delinquent taxes are made as follows:
<br /> Month Penalty Interest Total
<br /> February 696 196 796
<br /> March 796 296 996
<br /> April 896 396 1196
<br /> May 996 496 1396
<br /> June 1096 596 1596
<br /> July 1296 696 1896
<br />After July, penalty remains at 1296, and interest increases at the rate of 196 each month. In addition, if
<br />an account is delinquent in July, a 1596 attorney's collection fee is added to the total tax penalty and
<br />interest charge.
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