NOTICE ABOUT 2022 TAX RATES
Property Tax Rates in City of Coppell
This notice concerns the 2022 property tax rates for City of Coppell.
This notice provides information about two tax rates used in adopting the current tax year’s 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: $0.519193
This year's voter-approval tax rate: $0.595479
To see the full calculations, please visit www.dallascounty.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 Fund | Balance |
|---|
| Maintenance & Operations | $110,481,414 |
| Interest & Sinking | $570,277 |
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 or Contract Payment to be Paid from Property Taxes
| Interest to be Paid from Property Taxes
| Other Amounts to be Paid
| Total Payment
|
|---|
| 2013 Certificates of Obligation | $425,000 | $263,562.50 | $0 | $688,562.50 |
| 2013 GO Refunding Bonds | $895,000 | $69,375 | $0 | $964,375.00 |
| 2015 GO Refunding Bonds | $510,000 | $97,100 | $0 | $607,100.00 |
| 2016 Certificates of Obligation | $465,000 | $281,325 | $0 | $746,325.00 |
| 2016 GO Refunding Bonds | $430,000 | $53,950 | $0 | $483,950.00 |
| 2018 Certificates of Obligation | $620,000 | $604,587.50 | $0 | $1,224,587.50 |
| 2018 Certificates of Obligation | $585,000 | $373,925 | $0 | $958,925.00 |
| 2018 Certificates of Obligation | $555,000 | $537,800 | $0 | $1,092,800.00 |
| 2020 Certificates of Obligation | $570,000 | $321,400 | $0 | $891,400.00 |
| 2020 Certificates of Obligation | $460,000 | $257,631.26 | $0 | $717,631.26 |
| 2021 GO Refunding Bonds | $705,000 | $209,800 | $0 | $914,800.00 |
| 2021 Certificates of Obligation | $565,000 | $384,100 | $0 | $949,100.00 |
| 2021 Certificates of Obligation | $245,000 | $168,000 | $0 | $413,000.00 |
Total required for 2021 debt service
| $10,662,556.26
|
- Amount (if any) paid from funds listed in unencumbered funds
| $0 |
- Amount (if any) paid from other resources
| -$3,182,356.26
|
- Excess collections last year
| $0 |
= Total to be paid from taxes in 2022
| $7,480,200
|
+ Amount added in anticipation that the taxing unit will collect only 101.11% of its taxes in 2022
| -$82,119
|
= Total Debt Levy
| $7,398,081
|
This notice contains a summary of the no-new-revenue and voter-approval calculations as certified by John R. Ames, Dallas County Tax Assessor/Collector on August 4, 2022.