O83-10of
r-1
W
A
W
z
z
x
w
O
H
H
U
O
O w H
O A
9 zwL)>
o zW°
P-' O Pa
Erl H Z H A
0 HH
H <0 H A
W�V op4w
�a %a ° w�H
H W Pa Pa H Q'i
MHZO-44cnA
H H
w " ) wow
i 0
�W �
H 0 0 wW D w
PaH >4 P4
W
O W � � H
H p H H H H
WP-i
Z O H x W
W F-4 W�O
w z1 —0w
U OA� w H
z>
>1 w�P4
HH O H
Pi w
U W U) U
H 44 H F4
N cd
r4 44
r4 - r-4 °
0
�a)r�
a) O •r4 } I
b 4
�Oa)
+- 0
cn
4-J by .
co a) a)
x 1 U
a) (1) b •r1
H U ;j 4-1
r-I-II Pa H a)
cd (
1 0 4J
y aN a)
4- • 0 O cd
O V 4a cn
41 4 • p,cd
U p }-I cd
0 co
w •rrq
d-) U) r-1
� U) r1 �
raa r-I 4-1 a
P� r-I •rl
W cd U 0
N 4-1
.
O 4-4 N
4H O p
H
a
A
w
O
H
H
U
x w
H
w
0
a
H
U
n
U
H
H
U
x
H
>
W A
H
P4
O
H
H
W
fA
a)
r-I 4 0 44
d-1 41 U 0 b
(D .0 `� 0 u
O �
b
`1 4 0
�T •r1
4 H ^ 10
to
U
cd rg4,
O
Cd
LH
•r I
.4-1
c
W
cd
a)
r
E-4
4j
•r
4-J
�' r-A
•r -I
co
Lo
'd
cd
O 0 •r1
a)
H
'
0 l
a r TJ
a
c r -a
Q)
x
a
.
Q)
�
O
CO
X
X Q)
H
O
0
4-3
a) O
CO P M
O
Q)
W
•r4
:3
N U
,-) b 00
a)
�-
O N
H
H cd
ri
1 P'
�
..
Cdd
4-I
a) ,.t ;
4 x
04
• U�'d
H U
3
Cdd
4-I
4 cad
CO
'0 r4
U r4 a)
Pa
•r I
•r I
a)
(1) •r4
a) O
O
a 1
LH
4-1
�
•
4
P P..,
r•3
T
Cd �
�
°
v
x 3
c
�
U
UU�'
Pa 0 4-4 0
0
r-I 4 0 44
d-1 41 U 0 b
(D .0 `� 0 u
O �
b
`1 4 0
�T •r1
4 H ^ 10
a a d 'd
4 0 cn c 0 x
4-1 P4 P c W q P
O U H 4 O a)
LH 0
U) O co 0 d , d O
'� r, •r- -r-4 � CO a)
a
w R�rQ0o
0 cd cd r-4 a O
•r1 Pa 4J .n O
•r4 O } o
-1 r-A Cdd
cJ) � P b
Cd cd •� N
4-1 0) U x O
a) H cd r4 4a o
^ •r1 O O
4� P � o
J r-A
H'd � � H
() cd cn U
Q) l4 f! 4 J cn
r o 4-1 .
O 4H co r (" ? Q
W O co cd O (�
e-s
r-1
a)
a
c�
00
'd 4-J 40
a a) 44
0 4-4 r-)
cad � ct A
Q) U 4--1 'd
cad 4 d 'b
0 0 x
O )-1 U O
a-1 p a) co p
44 0 0 0
n �
�>N N a)
a) •d 4-3 4-J
.n r w 4-+ a � 0
Cdd • ( cn d .4 Q r1 4-3 H • i
a
co � 0 a) r-A a U
a)
P 0 LH 4 .0 U 4-1
v000tncd0,
� -W a) O cd 4 0
cd 4-1 a) a) P4 U
O 4 cd a)
cd P+ U) cd .0 CO
'd 0 a) w 10 •ra w
•r1 U U •H • td a) c cd
p CD
O
r ° U 4 O a) P'
rO •rrli 3 4) 4 }P 4 C9
�4 r� rl �4
O Cdd cd Cdd d-) O
CO (n P .0 P, 'd �1
•� a) � a) � U b b
Q) a b U D � •r ° I �•H W
a au 04P
a) b O U c m O
P 4J P4 O 44 ;j 41 0 4 Cd
•rl 41 U cd •r4 a-) '>i
U a) •H O U) r1 b U
"'0a� Cd 4
O U �>-, 4� �', c P
U O cd O cd r-4 cd
a)
cd
U
b
O
cn
W
b
b
a)
U
a)
r-A
r-4
0
U
a
O
r
r-4
r-I
SO
r4
O
.r-4
U
aJ
to
U
cd rg4,
O
•r I
Pa 9C
a)
E-4
N
P 0
0 0
O c
'
0 l
a r TJ
a
c r -a
a 11v
x
O
Cd
.4_1
a) b
P. 4-4
0
cd
O a)
0 1 0
0
�-
O N
H
0
ri
1 P'
..
4
H U
3
r
4-I
4 cad
q
p O
w
O
a 1
LH
4-1
�
•0
4
'j 4
r•3
T
°
�
U
UU�'
Pa 0 4-4 0
0
O O • 0
O
U a)
co
p co
Q) 4
•r I P
Pa 4-
M o a
44
•
OH
r-A
r. r.
r-A Fj
-W
X
4-1
O 4
•rl a)
r A •r4
V)- co
a)
U O
CO 60
cd r-4
CO — a
CO
a a d 'd
4 0 cn c 0 x
4-1 P4 P c W q P
O U H 4 O a)
LH 0
U) O co 0 d , d O
'� r, •r- -r-4 � CO a)
a
w R�rQ0o
0 cd cd r-4 a O
•r1 Pa 4J .n O
•r4 O } o
-1 r-A Cdd
cJ) � P b
Cd cd •� N
4-1 0) U x O
a) H cd r4 4a o
^ •r1 O O
4� P � o
J r-A
H'd � � H
() cd cn U
Q) l4 f! 4 J cn
r o 4-1 .
O 4H co r (" ? Q
W O co cd O (�
e-s
r-1
a)
a
c�
00
'd 4-J 40
a a) 44
0 4-4 r-)
cad � ct A
Q) U 4--1 'd
cad 4 d 'b
0 0 x
O )-1 U O
a-1 p a) co p
44 0 0 0
n �
�>N N a)
a) •d 4-3 4-J
.n r w 4-+ a � 0
Cdd • ( cn d .4 Q r1 4-3 H • i
a
co � 0 a) r-A a U
a)
P 0 LH 4 .0 U 4-1
v000tncd0,
� -W a) O cd 4 0
cd 4-1 a) a) P4 U
O 4 cd a)
cd P+ U) cd .0 CO
'd 0 a) w 10 •ra w
•r1 U U •H • td a) c cd
p CD
O
r ° U 4 O a) P'
rO •rrli 3 4) 4 }P 4 C9
�4 r� rl �4
O Cdd cd Cdd d-) O
CO (n P .0 P, 'd �1
•� a) � a) � U b b
Q) a b U D � •r ° I �•H W
a au 04P
a) b O U c m O
P 4J P4 O 44 ;j 41 0 4 Cd
•rl 41 U cd •r4 a-) '>i
U a) •H O U) r1 b U
"'0a� Cd 4
O U �>-, 4� �', c P
U O cd O cd r-4 cd
a)
cd
U
b
O
cn
W
b
b
a)
U
a)
r-A
r-4
0
U
a
O
r
r-4
r-I
SO
r4
O
.r-4
U
aJ
W
r:�
5
U
a) to
CTJ
4-I H
O
Cd 'd
r4
U x
x o
td
Id
td
P4
a�
H
H
a �
W
U)
� I
H '
H
U
� � 1
I
N
i
E
O
.,4
a,
.0
'0
(1) r4
(L) - rl
'� N
-H
�.
> •r-I
1 0 Ch
�
°
0)
- r-4
-H
cd
a)
a)
(1) •rI
y, p
�+
cd
4
O
�
W
co
a)
O
N
to
4-1
'd
to
a)
b r A
4W
+-)
• O
N
O
to
O
td
I~
4-j
r-I
:J 0
4
v-4
P4
0) a)
•ri 41
td
4
O
� co
;j
°
O
4a
�
u)
�
'd a
0)
to
N "A
P4
a)
0 r-♦
9
.0
4-3 cd
P •rI
J4
4H
CD
td r-I
0
0
td x
(3) U
•r1
O
94'
�U
x
3: P
�
•
a)
>,
td
to I
N
a) O
.0
ro
td
° U
O
O
U
I
'd
O
td
a)
w
a)
r-I
O
U
w
to
41
p r-1
p,
p
r
4 I
cd
4
N
U
a)
�
'd
U •r-1
'd
�'
bD
4-1
4-1
a)
'0 to
•r1
td
'd (1)
U
to
td
00
U
w
0 1
r 4 .
W�
4
Cdd
r4 a
U)
a)
m
P4
..
O
v1
a)
4--1
•r-4 4
•r I
U
td
E0
U
4
'
N x
v N
a'
r-4 -I
4-4 Cdd
4-J
�
? I
4
41
r- I
to
O H
a)
+J 4H
O CO
(1)
to
4-)
Q)
td
4-1
H
H
•rI O
m
,.�
•r I
4-1
t0
4
I~
4 P,
O
a
m
to a)
4-1
'd
•rl
A
'd
U)
;J
U -W
4-I
4
O �,,
•ri r-I
O
�I
r4
'J,
O
r
td •r-I
(1) U
'J,
.0
a 4-1
a) •rl
4 I4
1-1 ;J
H
O
I~
O
O
b U
td
0 a)
0
3-I
'J, ^
4-1
•r4
44
4-1
P
a)
4-1
'd
(1)
r
cd
U
w
(1) 4-I
bO
k
'd
a) W
P
U
A
c!1
�
•
o °
W
�'
P-
r-4
�,
to
•O
.,
O
'J,
4-1
4 m
p
U
S',
rO
A
�4
.0
U
a!
P,
m 4-1
P a)
U
O
a)
W
P4
•r-I
0
r 'd
U
4-1
P4
0 0
0
•rl
y
H
a
U
rI
td
v
•rl
4 •r-I
ar a)
td
4-1
a
Cd
P
U
C5
•rl
°�
a)
vi
i
+-1 4
� U
cd
r4
(1)
4-J
4-J
°
H
'd
b
0 T)d
4
('r rl
r-4
4
(a)
I4
p!
td td
(1)
O
0 r- I
CO O
�4
44
.-d
cd
cd
4 q
a
4
44 �
U 4-1
O
a)
W
r:�
5
U
a) to
CTJ
4-I H
O
Cd 'd
r4
U x
x o
td
Id
td
P4
a�
H
H
a �
W
U)
� I
H '
H
U
� � 1
I
N
i
E
State Property Tax Board
.r;CUTIVE DIRECTOR
<enneth E. Graeber
DEPUTY DIRECTOR
Bill Carnes, Ed-D.
GENERAL COUNSEL
H. Jack Woods
ASSOCIATE DIRECTORS -
I.arry I.uedtke, Valuation
Jim Robinson, Education
and Standards
July 14, 1983'
Dear Tax Administrator:
9501 North IH 35
P.O. Box 15900, Austin, Texas 78761
Telephone 512 -837 -8622 or 800- 252 -9121
MEMBERS OF THE BOARD
Ben Munson, Chairman
William -J. (Bill) Burnette
Dr. John E. Codwell, Sr.
Marvin L. Jonea•
Stephen-T. Jordan
Joseph A. VanDeWalle, Sr.
On July 5,.1983, the-United States Supreme Court issued a decision in the case
of American Bank & Trust Co. v. Dallas County, holding invalid the method
commonly used in Texas for valuing shares of stock in a banking corporation for
purposes of ad valorem taxation. This opinion reverses the Dallas Court of
Civil Appeals, whose opinion had been upheld by the Texas Supreme Court.
The Court based its decision on- a 195q amendment to federal law which bars the
application of certain taxes on federal obligations or their interest. The
decision. specifically held invalid the equity capital or "book° value "' method
used in valuing bank shares, since it failed to adjust for direct federal
obligations held by the banks. _.
In the SPTB General Appraisal Manual, the financial' institutions section
discusses 'a. market metnod and "booK value` or equity capital method of val u_i ng
bank shares. It was the "book value" method which had been used in Dallas
County,. without a deduction for the value of federal obligations.
The Supreme Court has added one more step to the "book value" method. That is,
once the value of the stock is, determined by this method, the value- of direct
federal obligations held by the bank must be deducted. Any value remaining is
the intangible value of bank stock for purposes of property..taxation.
It is our position that, the federal obligations discussed in the decision are
those which impact the; borrowing power of the United States Gov ernment,. such as
Treasury Bills. Wen do not believe this includes secured obligations, such as
GNMA, FNMA, or FHA guaranteed issues.
The-fiscal impact of this decision may be divided into two areas:
1.. Impact_ on taxing units due to potential refund of prior years which
have already been collected.
2. Impact on taxing units due to loss of current year and future revenues which
would have been levied on bank stock
Page 2
We-will briefly discuss each of these concerns.
Refund Problems
.l
The- decision does not specifically address the issue of refunds. Insufficient
information exists to accurately estimate the potential refund of prior year
taxes. In certain cases, litigation was filed for 1979, 1980, 1981 and 1982 on
the valuation of bank stock. In many instances, the banks paid the taxes for
the years "under protest." In yet other cases, there was an agreement by the
taxing authorities to make some refund depending on the-final appellate court
decision.
For these various reasons and several others, there is much uncertainty as to
how many taxing units will have to refund prior year taxes paid on bank stock.
Our advice. to you in this regard is to review your own particular situation with
your attorney. It simply is not possible to offer specific statewide advice
because of the variety of situations which exist.
Current Year Impact
The decision does not invalidate the Texas statute that provides for.taxation of
stock in a bank.i ng: corporation.. Rather, it only invalidates a. single method of
appraising share. value. Accordingly, chief appraisers must continue to follow
the statutory requirements to place bank shares on the. 1983 appraisal roll.
Should you choose to use another method of stock valuation,. however,. an
adjustment for the value of direct federal obligations will be necessary.
Because of the uncertainties which currently exist,.. the chief appraiser may want
to consider alternatives which would permit work on the- overall appraisal roll
to proceed without interruption. Thez following suggestions may be helpful in
this regard:
A. Apprai sal Records Not Submi tted to ARB. If the chi of apprai ser has not
yet submitted the appraisal records to the ARB under Sec 25.22, Property Tax
Code, he might. elect to remove the bank stock listing from the records and make
a later submission.. This would allo* time for a review of bank stock valuation
methods, but would require amendment to the Sec. 25.22. affidavit_ found in the
code. If this option is taken, it would still be possible to include the value
of bank real:property with -other appraisal records submitted to the ARB.,
B. Appraisal Records Nora Before the ARB. If the district's appraisal
records are :currently pending before. the ARB, t e chief appraiser may choose to A
file a written motion asking that those portions dealing with the value of bank
stock be set for a later hearing or- placed: on the supplemental appraisal
records. As in the first situation, this would. allow additional time for
consideration of value-
Page 3
C. Records Approved and /or Appraisal Rolls Certified to Taxing Units If
the ARB >las a rea y approv the district's appraisal records an t e- chief
appraiser has certified an appraisal roll and total value to the :taxing units
under Seca 26.01, it is our position, because of these unusual circumstances,
that it would be possible to recall bank value for the purpose of
reconsideration using a procedure similar to that outlined in Sec. 25.25,
Property Tax. Code.
HB 1446 which is effective January 1, 1984, provides useful administrative
guidance for handling the situations noted above.. This_ bill: amends Sec.
25.23(a) to provide that property on which the ARB has not determined a protest
at the time of its approval of appraisal records shall be included in the
supplemental appraisal records.
It also amends. Sec. 26.01 to. provide that when the chief appraiser 'certifies the
appraisal roll to a taxing unit, he shall also submit a listing to the unit of
properties which are taxable by the unit but not included in the appraisal roll
because the ARB has not concluded protests on them. The listing shall include
the value determined by the appraisal district and the -value claimed by the
protesting property owner. The assessor shall use the. lower value for purposes
of the effective tax rate calculation.
Even though HB 1446 is not yet in effect, we believe that an appraisal district
or taxing unit electing to follow its provisions in conjunction: with the bank
stock valuation issue would be adjudged to be in good faith, substantial
compliance with the tax laws.
Regardless of which alternative the chief appraiser chooses to follow, we
recommend that his plans be promptly communicated to each taxingunit. This is
particularly true if the taxing units are approaching the truth -in- taxation
stage.
Concerning the effective tax rate calculation, there are two issues on which our
agency has taken a position.
1. Since bank stock remains taxable, we do not believe that the effective
tax rate calculation requires a taxing unit to deduct as a new exemption any
levy lost due to a reduction in the intangible value of such stock. As you are
aware, this reduction is required for properties becoming exempt for the first
time, and it serves to reduce a- unit's effective tax rate.
2. SB 1345 which became effective on June 17, 1983, amended Sec. 26.04,
Property Tax Code, to permit a taxing unit to make special adjustments in the
calculation of the current year's effective tax rate when an error in the
appraisal roll in the preceding year caused the loss of a substantial amount of
anticipated tax revenue.
Specifically, if one or more errors on the appraisal roll for the previous year
are discovered after.adoption of the unit's tax rate, and if those errors result
in the loss of more than one percent of the total appraised value for the unit
in that year, the tax assessor may add to the current year's effective tax rate
the amount necessary to adjust for that loss in an attempt to bring the unit to
the status it would have been in had the errors not occurred.
_J
Page 4
We bel i.eve that if at the time of effective tax rate calculation you have made
refunds to banks; for 1982 taxes and,, if then lost value represents more- t pan.
one percent of your total 1982 values, this adjustment would be available- to
you.
The provisions of SB 1345 are not applicable to losses from refunds occurring
prior to 1982.
Full details concerning the mechanics of adjustments under this bill are con-
tained in our publication Compliance Package /'83
Enclosed with this memorandum is a full copy of the Supreme Court decision. -We
recommend that you review its content with and that you be guided
by his or her advice in both• the refund issue and question- of valuation for
1983.:
Wi h kindest regards,
Kennet E. Graeber
Executive Director
KEG:_JR :kp
7
U�
0
Q
n WL-
1983 PRELIMINARY VALUATION SUMMARY
$ 28,945
$ 895,808
S -
- Deferred Special Use Value Loss
Agricultural $ 192,031
- Partial Exemption Value Loss
Pursuant to Section 25.20 of the Texas Property Tax Code,'
I am submitting to the Kennedale City
a certified estimate of the total appraised value of all
taxable property in this district for the 1983 tax year.
The appraisal records are to be submitted to the Tarrant
Appraisal Review Board for review and determination of
protest and are, therefore, subject to change in the appeals
process.
TOTAL APPRAISED VALUE
Veteran
Over - 65
Homestead
Disability
NET TAXABLE VALUE
$ 103,199
Date: May 13, 19
$ 52,188,101
$ 50,968,118
7V64 7 J C_� a_tk
Nelson F. Eichman, Chief Appraiser
NEW CONSTRUCTION VALUE $1,713,998
-
TBS210 V3,0 07- JUL -83
18!39'03
ENTITY'
CITY OF KENNEDALE
FOR!
PERSONAL PROPERTY ONLY
DESCRIPTION,,,,,,,,+ VALUE,,,,,,, .,
COUNT,+
TAX,,,,,+,,,„ GROSS,VALUE,+,
TOTAL APPRAISED VALUE
26857101,
310
26857101,
-FULL EXEMPTIONS
-TOTAL FULL EXEMPTS
0,
0
0
APP, VAL SUBTOTAL fl
26857101,
310
26857101,
- DEFERRED SPECIAL APP
-TOTAL DEF SPC APP
0,
0
0
APP, VAL SUBTOTAL 42
26857101,
310
26857101.
- PARTIAL EXEMPTIONS
OVER 65
31853,
5
33596,
DISABILITY
1862,
1
1862,
-TOTAL PART EXEMPTS
33715,
6
35458,
NET TAXABLE VALUE
26823386,
305
26830886,
NEW CONSTRUCTION
0,
0
IMPROVEMENT VALUE LOSS
0,
0
NEW EXEMPTION LOSS *0
-NEW FULL EXEMPTIONS
-NEW DEFERRED SPECIAL
-NEW PARTIAL EXEMPTIONS
OVER 65 31853, 5
DISABILITY 1862, 1
* ** SCHOOL DISTRICTS ONLY * **
NET TAXABLE VALUE 26823386, 305 26830886,
FROZEN REMAINDER 0, 0 0,00
NET TAX, SUBTOTAL #1 26823386, 305 26830886.
TTB210 'V3.0 25— JUN -83
08221;44
ENTITY* CITY
OF KENNEDALE
FOR;
REAL PROPERTY
ONLY
DESCRIPTION......... VALUE.........
COUNT.. TAX...........
GROSS.VALUE...
TOTAL APPRAISED VALUE
25549259,
1388
25549259.
—FULL EXEMPTIONS
—TOTAL FULL EXEMPTS
0.
0
0 •
APP, VAL SUBTOTAL #1
25549259.
1326
25549259.
— DEFERRED SPECIAL APP
AGRICULTURAL EX
184085,
15
245302.
—TOTAL BE SPC APP
184085,
15
245302,
APP, VAL SUBTOTAL #2
25365174.
1326
25549259.
—PARTIAL EXEMPTIONS
VETERANS $1500
12000.
8
201685.
VETERANS $2000
2000.
1
26392.
VETERANS $2500
7500.
3
s 49873.
VETERANS $3000
13945.
6
106625.
OVER 65
940094.
136
1963964.
DISABILITY
101725.
14
230478.
— TOTAL PART EXEMPTS
1077264.
161
2453912,
NET TAXABLE VALUE
24287910,
1283
25307995,
NEW CONSTRUCTION
1706215,
43
IMPROVEMENT VALUE LOSS
17001.
1
tU NEW EXEMPTION
LOSS *U
—NEW FULL EXEMPTIONS
—NEW DEFERRED SPECIAL
AGRICULTURAL EX
126034.
7
—NEW PARTIAL EXEMPTIONS
VETERANS $3000
9000.
3
OVER 65
97108
14
DISABILITY
13526,
2
U* SCHOOL DISTRICTS ONLY # *#
NET TAXABLE VALUE
24287910,
1283
25307995,
FROZEN REMAINDER
0.
0
0600
NET TAX. SUBTOTAL #1
24287910.
1283
25307995.
STATE OF TEXAS X
COUNTY OF TARRANT X PROPERTY TAX CODE, SECTION 26.01
CERTIFICATION OF 1983 APPRAISAL ROLL FOR: CITY OF KENNEDALE
I, Nelson F. Eichman, Chief Appraiser for Tarrant County solemnly
swear that the attached is that portion of the approved Appraisal
Roll of the Tarrant Appraisal District which lists property taxable
by the above named entity and constitutes their Appraisal Roll.
1983 APPRAISAL ROLL INFORMATION
VALUATION SUMMARY
TOTAL APPRAISED VALUE $ 52,559,511
- Deferred Special Use Value Loss
Agricultural $ 184,085
- Partial Exemption Value Loss
Veteran $ 3 7,945
Over - 65 $ 971,947
Homestead $
Disability $ 103,587
NET TAXABLE VALUE
Date: Sept • 13, 1963
RECEIVED BY:
$ 51,261,947
r
Chief Appr Nelsa F. E:Lchman
Notary:
DATE:
City or Special District: City of Kennedale
NOTICE OF CALCULATION OF EFFECTIVE TAX RATE AND
PUBLICATION OF ESTIMATED UNENCUMBERED FUND BALANCES
I, Melvin _A. Justic Financ Coordinator for City of _Kex- n edal e ,
in accordance with the provisions of Sec. 26.04, Property Tax Code, have calculated the tax rate which may not be
exceeded by more than three percent by the governing body of the Iennedal without holding a public
hearing as required by the code. That rate is as follows: $ • 5903 per $100 of value.
The estimated unencumbered fund balance for Maintenance & Operation fund: $ 120 438 The
estimated unencumbered fund balance for Interest & Sinking fund: $ 137.930
Melvin A._.Ju Finance C oordinator
Aug ust 30, 1983
CALCULATIONS USED TO DETERMINE EFFECTIVE TAX RATE
I. DATA
1. 1982 Total tax levy from the 1982 tax roll .......................................
2. 1982 Tax rate ($ • 51 M &O and $ • 10 I &S) ... ...............................
3. 1982 Debt service (I &S) levy ..................................................
4. 1982 Maintenance and operation (M &O) levy .... ...............................
5. 1982 M &O taxes on property in territory that has ceased to be a part of the unit in 1983
6. 1982 M &O taxes on property becoming exempt in 1983 .........................
7. 1982 M &O taxes on taxable value lost because property is appraised at less than market
valuein 1983 ..................... .............................., ...........
8. 1983 Total taxable value of all property ..... ...............................
9. 1983 Taxable value of new improvements added since Jan. 1, 1982 ..............
10. 1983 Taxable value of property annexed since Jan. 1, 1982 ......................
11. 1983 Tax levy needed to satisfy debt service (I &S) ..............................
*12. Rate to raise 1982 tax levy due to appraisal roll errors (rate that should have been less
rate that was levied) ($ /$100-$ /$100) ...
*13. Rate to recoup taxes lost in 1982 due to appraisal roll errors (lost dollars divided by
1983 taxable values)
($ : $ ) ............................
* Steps necessary for appraisal roll errors (if more than 19 of total appraisal roll),
effective for taxing units on June 17, 1983.
1 n
$ 297488
$ 61 /$loo
$ 47,598.
$ 249,890
$ -0-
$ — L.2- - 13
$ -0-
$ 51,111,296_
$ 1,706,215_
$ -0-
$ 44,455
$ -0- /$100
$ -0- /$100
COMPLIANCE /'83
M
'jI
II. CALCULATION
MAINTENANCE AND OPERATION (M &O) TAX RATE
1. (A) 1982 Total tax levy (Data 1) ................... ...............................
$ 297,488
47,598
(B) Subtract 1982 Debt service levy (Data 3) ....... ...............................
— $
(C) Subtract 1982 Taxes on property no longer in unit (Data 5)
— $ -0-
(D) Subtract 1982 Taxes for exemptions (Data 6) ... ...............................
— $ 1, 213
(E) Subtract 1982 Taxes for productivity valuation (Data 7) .........................
-- $ -0
(F) Adjusted 1982 M &O levy ..................... ........... .....................
$ 248,677
2. (A) 1983 Total taxable value of all property (Data 8) ...............................
$ 51,111, 296
(B) Subtract 1983 Value of new improvements (Data 9) ........................... .
— $ 1 706 , 215
(C) Subtract 1983 Value of annexed property (Data 10) ............................
— $ -0-
(D) Adjusted 1983 Taxable value for M &O ......... ...............................
$ 49,405,081
3. (A) Divide the adjusted 1982 M &O levy (1 -F above) by the adjusted 1983 taxable
248,672 081
$
value for M &O (2 -D above) ($ _ $ --49,405 )
.005033
(B) Multiply by $100 valuation .................... ...............................
x $ 100
(C) Calculated maintenance and operation (M &O) rate for 1983 ....................
$ .5033/$100
INTEREST AND SINKING (I &S) TAX RATE
4. (A) 1983 I &S levy needed to satisfy debt (Data 11) .. ...............................
$ 44,455
(B) 1983 Total taxable value of all property. (Data 8) ...............................
$ 51,111 , 296
(C) Divide the 1983 I &S levy (4 -A above) by the 1983 total taxable value
44,455 51 J11, 296
$ .000870
(4 -B above) ($ - $ ) ..............
J (D) Multiply by $100 valuation .................... ...............................
x $ 100
(E) Calculated interest and sinking rate (I &S) for 1983 .............................
$ .0870 / 100
APPRAISAL ROLL ERROR RATE
5. (A) Rate to raise 1982 levy due to appraisal errors (Data 12) $ -0- /$100
(B) Add rate to recoup taxes lost due to errors (Data 13) ........................... + $ -0- /$100
(C) Total rate to adjust for appraisal roll errors ..... ............................... $ -0- /$100
TOTAL EFFECTIVE TAX RATE FOR 1983
6. (A) Calculated maintenance and operation (M &0) rate (3 -C above) ................. $ . 5033 /$100
B Add calculated interest and sinking I &S) rate (4-E above + $ . 0870 /$100
(C) Add rate to adjust for appraisal roll errors (5 -C above) ......................... + $ -0---/$100
(D) Calculated 1983 Effective Tax Rate ........... ............................... $ . 5903 /$100
1983 Effective Tax Rate is the tax rate published as required by Sec. 26.04, Property Tax Code.
rnMPLIANCE /'83 13
o
aQ
0
Q�
a
QQ Q
r
July 20, 1983
Dear Administrator:
Pursuant to the provisions of Section 26.01 of the State Property
Tax Code, we hereby transmit your 1983 certified value roll. We
request that you examine the roll carefully.
Any changes permitted by sections 25.25 and 26.15 of the property
tax code will be included in the supplemental roll which we
plan to furnish you on or about September 15, 1983. Please inform
us of any changes or corrections that you may desire to make.
Of special interest to you as a taxing unit, is the decision by
the United States Supreme Court in the case of the American Bank
and Trust Company vs. Dallas County This decision specifically
holds invalid the "equity capital formula" used for valuing bank
shares, since it failed to adjust for Federal obligations held
by the banks.
The State Property Tax Board's interpretation is that Federal
obligations discussed in the decision are those which adversely
affect the borrowing power of the United States Government. It
has been determined that this does not include secured obligations
such as GNMA, FNMA, or FHA guaranteed issues.
It further directs that until final resolution, the Appraisal
Districts should remove the bank stock listings from the records
and make a later submission. Since this court ruling was not made
until July 5, 1983, personal property of banks was already included
in the original hard copy and /or magnetic tape version which you
will receive. However, we have provided a list of the banks in your
jurisdiction and the value of their personal property. To assist
you, this figure is also recorded on the "198 Valuation Summary ".
I have enclosed all the information we have received from the
State Property Tax Board. If additional information is needed
or I can assist you in any way in this matter, please contact me.
Yours truly,
?V6 � &G ,L 4&V%
Nelson F. Eichman
Chief Appraiser
cmp
1701 River Run • Suite 200 • Fort Worth, Texas 76107.332 -3151 • (Metro) 429 -2947
k
STATE OF TEXAS X
COUNTY OF TARRANT X PROPERTY TAX CODE, SECTION 26.01
CERTIFICATION OF 1983 APPRAISAL ROLL FOR: City of Kennedale
I, Nelson F. Eichman, Chief Appraiser for Tarrant County solemnly
swear that the attached is that portion of the approved Appraisal
Roll of the Tarrant Appraisal District which lists property taxable
by the above named entity and constitutes their Appraisal Roll.
1983 APPRAISAL ROLL INFORMATION
VALUATION SUMMARY
TOTAL APPRAISED VALUE
- Deferred Special Use Value Loss
Agricultural $ 184,085
- Partial Exemption Value Loss
Veteran $ 35,445
Over - 65 $ 971,947
Homestead $ - 0 -
Disability $ 103,587
NET TAXABLE VALUE
Less Bank Personal Property
Ref: Supreme Court Opinion
ADJUSTED NET TAXABLE VALUE
Date: July 21,.1983
$ 52,406,360
$ 51,111,296
- $ N/A
Chief Appraiser Nelson F. Eichman
RECEIVED BY: DATE:
Publishing, Inc.
P.O. Box 40230 811 West Enon
Everman, TX 76140
Phone 293 -1240
Publisbeis ()I:
E:YE:ILAIA\ TlAlr:.S
KENNEIDAIE' NEWS
Tt)WN & COUNTRY NEAVS
SOUTH ('OUN' Y ADVERTISER
STATE OF TEXAS:
COUNTY OF TARRANT:
City of Kennedale
AFFIDAVIT OF PUBLICATION
BEFORE ME, the undersigned authority, on this day personally appeared
Carl Hoover , who having been duly sworn, says upon his oath:
That he is the editor of the Kennedale News , which is a weekly
newspaper published in Tarrant County, Texas, with general circulation in the
city of
Kennedale
, Texas; and that a copy of Notice of Calculations of Effe ctive
Tax Rate and Publication of Estimated Unencumbered Funds Balance
0
which is attached to this affidavit, was published in said newspaper on the following
dates, to wit: September 8th, 1983
EXECUTED THIS 9th day of September 1983 .
SUBSCRIBED AND SWORN TO before me this the 9th day of September ,
1983
otary Pubhc
Tarrant County, Texas
7
i
w a
1 Q
K
I
m
+ y
tD d
w d tD
tD t0 (D
d eD
cfi t0 t0 'o
m�
m
W m
m m
m W
m m m
W W W
C m
m m m C
m m
2 2
N
PJ N N
d
y
^�
DTI (�
z n
m y
c
f x
T
, w S.
m
�
m
X
IQ
C
w
d ° C
m w
y
w
o
r c
" CU a 0 a
•° m
' p
r•
f
z n
c
C
n<
m
n
6A 0
a w
F-'
�•
3 d.... S
�.
en
x
ti®
a N d
m m m
J
p ? ® m
J
°'
m
q�,
d®
m
N
V
,'
S S m S
p�
0.d
b
O y
y
O.
O O d
d
N
U
p D O. (n
~°
r
m J
m m
6'9 w K
fA
K m r r w'
(f9
m D
c
N
m p
V ®
'O
m
m V N-
o
a m
o - r J m
ID
m n Fk
m
ffA j
w
x
C
c
'Cl 'Cl
m
m m
O
0 O
_'
f�0
�•
a v
c
�
cp
�°
p < j W m n
� j
ID
� y
fit
®
m
_
. O
O
d
x
<
w
a J
C m
d
^ o
m in
c
N
O
m 3 m
�
3 0
m
D
n
m p• r.
m
m
d 3
a O
N x
N
p m O
J
m
t0 O O m d
m m
D
N
to to d
m
O
N.
m
m J
x
p to
m d
d
"1 J
o m J J
< N J
x
d j O
a
m
co
J
< d m
O..
m
C J f x
0
w
0 m
` n
m
d
'°
- .�
a
y by n
y
0
m
d
t`
j m
m
•°
m
N.
y'" o o p
m=
d
o
a
a o a
D
p° a v a o v
3
O
O
W J
H
m
°
m
m
d
W
I O
J
o
`< m 3
fay
°
cD
�'
v d
O
rt
2
®eq
- n
Q
0
o
w
in
N
z r
y
CL
r—
CL
�
• O
-
�
s
m
m
m
q
r...
°' � � -.
CL
gq m
_�
m
.
<
80-
w
m
N
- o ID c
M M
C
O c
0
O
m
o
L
:
:
R
m
-1
to
F-
fD G
q�
C
• O'
h :
69 G
I Irh
r Y
o•
fPt
I g
=
N
(n
II
N :
�
o
n
N
rn
w
G m
ID
6M
�
m
W
O
1
O
F
Q
N
1 rn
a
T(D
d.
In
c
IO
+
W O
7
i
w a
1 Q
K
I
m
(7
D D
o_
a
d
y
^�
DTI (�
z n
T
n
m
°i n n c
m
W
C
w
d ° C
m w
y
w
o
r c
" CU a 0 a
•° m
' p
<O
Q m C c c cO
m
f
z n
a
n<
m
a w
D, -�
v o
D
l o
M
m
o
°
o
°'
m
'O n
m
N
.m
n
a o
C7 r
m
d 3
n 2 d
m
d
m
r
m J
m m
6'9 w K
fA
K m r r w'
(f9
m D
W
c
n
o.
o
o
a m
o - r J m
A w
.� , a
m
m
5 J (D
x
C
c
'Cl 'Cl
m
m m
O
0 O
d
f�0
O d
a
�
�°
p < j W m n
� j
d N N X d N m P. X � N 0 m <
® Z
x
y J
w °
D
O
0
d
x
<
w
a J
C m
.-. d
Q n w c C m X O'
m m < O
w
m
N
m
�
D
o'
j
o
_
Q
N
p m O
J
m
t0 O O m d
m m
D
N
to to d
m
O
N.
m
m J
x
p to
m d
d
"1 J
o m J J
< N J
x
d j O
a
m
_
O
J
< d m
O..
m
C J f x
0
C
d
'°
- .�
o
!/a m X N d m Ol V
z
m
w
o m
ao
m
•°
m
a
m
m 3 3 m
m
m=
d
o
a
a o a
D
p° a v a o v
3
W J
H
m
°
m
m
d
W
I O
J
o
`< m 3
°
cD
�'
v d
O
_ m
Q
y a
w
in
N
z r
y
r—
CL
m o w
m
r...
m g m w J
m
S m
N
o
I. -
C
O c
O
m
f9 - w
m
to
m
C
d
o•
I g
a
c
(n
N :
�
n
N
rn
w
�
m
W
d.
c
+
+
4A
6
.
�,
�, �
,
�, �, �,
x
I I I I I I
a
F,
fA
F-
1 is
m r r
° o
CD i
eo 0
V w
0
1
0 0
1
°
°a
r 1
I
0
1 r N
W
° w
1
O
F- 1
W
O U, ° N
1
t-+ p
V V
O O
O O
• O O N N Tv 1
1✓
W
0
O
O
NO
N
7
i
w a
1 Q
K
I
m