Tax Rate History
Taxable property within the District is subject to the assessment, levy, and collection by the District of an annual ad valorem tax, without legal limitation as to rate or amount, sufficient to pay principal of and interest on the Bonds (and any future tax-supported bonds which may be issued from time to time as authorized). Taxes are levied by the District each year against the District's assessed valuation as of January 1 of that year. Taxes become due October 1 of such year, or when billed, and generally become delinquent after January 31 of the following year.
The Board covenants in the Bond Order to assess and levy. for each year that all or any part of the Bonds remain outstanding and unpaid a tax ample and sufficient to produce funds to pay .the principal of and interest on the Bonds. The actual rate of such tax will be determined from year to year as a function of the District's ta~ base, its debt service requirements, and its available funds. In addition, the District has the power and authority to assess, levy, and collect ad valorem taxes, in an unlimited amount, for operation and maintenance purposes.
For the 2023 tax year, the District levied a total tax rate of $0.730 per $100 assessed taxable value, being composed of the following: $0.200 per $100 of assessed taxable value for debt service on the Outstanding Bonds for the Utility System; $0.435 per $100 of assessed taxable value for debt service on the Outstanding Bonds for the Road System; and $0.195 per $100 assessed taxable value for maintenance and operations.
Historical Tax Collections
The following table illustrates the collection history of the District for the 2014–2021 tax years:
Tax Year | Certified Taxable Value | Tax Rate | Adjusted Tax Levy | Collections Current Year | Current Year Ending 9/30 | Collections 9/30/2021 |
|---|---|---|---|---|---|---|
2022 | 917,349,495 | 0.850 | 7,797,471 | 98.89% | 2023 | 98.89% |
2021 | 704,766,745 | 0.900 | 6,342,901 | 98.98% | 2022 | 99.90% |
2020 | 571,166,084 | 0.920 | 5,254,728 | 99.57 | 2021 | 99.57 |
2019 | 496,308,551 | 0.950 | 4,714,931 | 99.64 | 2020 | 99.65 |
2018 | 378,066,495 | 0.980 | 3,705,052 | 99.64 | 2019 | 99.89 |
2017 | 239,320,943 | 1.000 | 2,393,729 | 99.75 | 2018 | 100.00 |
2016 | 140,635,653 | 1.000 | 1,406,307 | 100.00 | 2017 | 100.00 |
2015 | 62,595,683 | 1.000 | 625,957 | 99.79 | 2016 | 100.00 |
2014 | $21,306,006 | $1.000 | $213,060 | 99.79% | 2015 | 100.00% |
(a) Tax rate per $100 of assessed taxable value. Includes a tax for maintenance and operation purposes. See “Table 5 – Tax Rate Distribution” below.
(b) In process of collection.
Tax Rate Distribution
Tax Year | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|
Total | $0.730 | $0.850 | $0.900 | $0.920 | $0.950 | $0.980 | $1.000 |
Maintenance | $0.195 | $0.150 | $0.195 | $0.170 | $0.200 | $0.255 | 0.300 |
Utility Debt Service | $0.20 | $0.265 | $0.270 | $0.285 | $0.300 | $0.360 | 0.360 |
Road Debt Service | $0.335 | $0.435 | $0.435 | $0.465 | $0.450 | $0.365 | $0.340 |