Tax Base – The total value of all real and personal property in the City as of January 1 each year, as certified by the Dallas County Appraisal District’s Appraisal Review Board. The tax base represents the net taxable value after exemptions. (Also sometimes referred to as “assessed taxable value.”) Tax Levy - The total revenues to be raised by ad valorem taxes for expenditures as authorized by the City Council. Tax Rate - The amount of tax levied for each $100 of valuation. Taxes – Compulsory charges levied by the City for financing services performed for the common benefit. Taxes Prior Years - Taxes that remain unpaid on or after the date on which a penalty for non-payment is attached. User Charges - The payment of a fee for direct receipt of a public service by the party benefiting from the service. Water and Sewer Capital Projects (Fund 508) - Accounts for funds transferred from the Water & Sewer Fund dedicated for water & sewer capital improvements. The basis of accounting employed is “modified accrual”. Water Meter Replacement (Fund 503) – To account for the financing and acquisition of the City’s water meter replacement program. The basis of accounting employed is “modified accrual”. Working Capital – The current assets less the current liabilities of a fund. For budgetary purposes, working capital, rather than retained earnings, is generally used to reflect the available resources of enterprise funds. Youth Sports Associations (Funds 223, 233, 238, 239, and 247) – Accounts for the revenues and expenditures associated with the activities of the City’s youth sports associations. The basis of accounting employed is “modified accrual”.
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