6097 (EXHIBIT A - E) (2) - Laserfiche WebLink

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Current Assessed Valuation. The following table shows the total assessed valuation and the estimated actual valuation, by category, of all taxable tangible property situated in the City according to the preliminary assessment of January 1, 1997: Assessed Assessment Estimated Actual Catee:orv Valuation Rate Valuation Real estate: Residential 19% Commercial 32% Agricultural 12% Sub-Total Personal property 33-1/3 %(1) Locally Assessed Railroad & Utility Property Real estate 32% Personal property 33-1/3 %( 1 ) State Assessed Railroad & Utility Property 32% Total (1) Assumes all personal property is assessed at 33-1/3%; because certain subclasses of tangible personal property are assessed at less than 33-1/3%, the estimated actual valuation for personal property would likely be greater than that shown above. See "Assessment Procedure" above. Source: City of University City. History of Property Valuation. The total assessed valuation of all taxable tangible property situated in the City, including state-assessed railroad and utility property, according to the assessments of January 1 in each of the following years, has been as follows: Percentage Year Assessed Valuation Increase (Decrease) 1992 $288,855,841 N/A 1993 291,703,033 0.98% 1994 295,397,473 1.27% 1995 299,780,836 1.48% 1996 306,326,195 2.18% Source: City of University City. Property Tax Levies and Collections Tax Collection Procedure. Prior to the beginning of each fiscal year, the City Council prepares an estimate of the amount of money for each fund to be raised by taxation for the ensuing fiscal year and the tax rates for each fund required to raise such amount. Such estimates are based on the annual budget for the coming year and the assessed valuation figures provided by the County Clerk. The City Council certifies the estimated tax rate to the County Clerk at the time it adopts its budget for the fiscal year, which must be at least ten days after the beginning of the fiscal year. -30-