Revised 9/2008 C:\Docstoc\Working\pdf\0df28a3b-826d-426c-879e-89ed58ad39d9.xls110% Worksheet
11/23/2011
Sample County
Y-15 110% Cap Documentation Prepared by:
FYE 9/30/09 Date:
First Test Second Test
Fund # List funds that are authorized by: Prior Year Collections Trust Base For Current Year Collections Amount of % New Growth for Current Year Total Current Amount of %
Ad Valorem Homestead ** 1 Prior Year Amounts Current Ad Valorem Homestead ** 1 Current Year Increase Increase Levy (Mills) Prior Year Less New Increase Increase
Realty Auto Mobile Home Exemption Miscellaneous Collections Prior Year Year Realty Auto Mobile Home Exemption Miscellaneous Collections (Decrease) (Decrease) Valuation 1 Mill = .001 Dollars Collections Growth (Decrease) (Decrease)
X X X X X X A A A A A A Y Y
Mississippi Code 27-39-305
151/155 Road Maintenance(27-39-305) 0 0 0 0 0 0 0 0
161/165 Bridge & Culvert(27-39-305) 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
Total for Code 27-39-305 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Mississippi Code 27-39-320 A A A A A
002 One Mill Tax Levy(27-39-329) 0 0 0 0 0 0 0 0
690 Co-Lin Junior college/maint (37-29-141) 0 0 0 0 0 0 0 0
691 Co-Lin Junior college/imp (37-29-141) 0 0 0 0 0 0 0 0
Total for Code 27-39-320 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Mississippi Code 27-39-321 A A A A A
001 General County(27-39-303) 0 0 0 0 0 0 0 0
106 Volunteer Fire(83-1-39) 0 0 0 0 0 0 0 0
697 Pearl River Basin Development(51-11-31) 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
Total for Code 27-39-321 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
TOTAL AGGREGATE RECEIPTS 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
** 1 Miscellaneous Category; Miscellaneous Category cont.
MS Code 27-39-305: MS Code 27-39-321:
1. Proceeds from notes issued under 27-39-333 1. Additional tax on Rental Vehicles levied under
to offset Hurricane Katrina Indebtedness 27-65-231
2. Proceeds from Rental Car Tax imposed in 27-65-231 2. Shore and Beach Preservation District
MS Code 27-39-320: under 49-28-27
1. Proceeds from notes issued under 27-39-333 3. T.V.A. payments in lieu of taxes not used for
to offset Hurricane Katrina Indebtedness capital improvements per 27-39-305
4. Proceeds from notes issued under 27-39-333
to offset Hurricane Katrina Indebtedness
NOTES FOR THE PREPARATION OF THE 110% CAP
Note 1. Take the highest total of receipts from one (1) of the immediately
preceding three (3) years. Use this as your base year. Then the levy
cannot exceed 110% of that amount. (It will usually be prior year
collections in most counties.)
Note 2. Copy the Tax Levy that is appropriate for the year you are auditing. Look
at each authorized levy and be sure that it is included in the appropriate
section on the 110% workpaper or that it is excluded according to the
appropriate MS Code sections.
Note 3. Enter the current total receipts for the fund/funds that fall under MS Code
27-39-305. This applies to the Countywide levy for construction and
maintenance of roads and bridges. The total receipts will also include:
(1.) Homestead Reimbursement (2.) Proceeds from notes issued to
offset Hurricane Katrina Indebtedness and (3.) Proceeds from Rental Car
Tax. You can add them under the Miscellaneous column on the 110%
worksheet. The total receipts for MS Code 27-39-305, will NOT include
additional revenue from ad valorem tax on any newly constructed
properties or any existing properties added to the tax rolls or any
properties previously exempt, which were not assessed in the prior year
(New Growth)
Note 4. Enter the current total receipts for the fund/funds that fall under MS Code
27-39-320. This will apply to the Mandatory tax levied in MS Code 27-39-
329(Special One Mill) and will include Proceeds from notes issued to
offset Hurricane Katrina Indebtedness. Maintenance and Support of
Junior Colleges will also fall under MS Code 27-39-320. MS Code 27-
39-320 will NOT apply to ad valorem imposed on Railroad Authorities
and the portion of the levy for Junior Colleges under MS Code 37-29-103
that is pledged for and used to repay debt. Total receipts included for
MS Code 27-39-320, will also include homestead reimbursement and
revenues collected from the property owner. Revenues from newly
constructed properties or existing properties added to the rolls or
properties previously exempt which were not assessed in the prior year
may be EXCLUDED from this limitation. All funds that fall under MS
Code 27-39-320 will be looked at on a individual basis to determine if
they exceed the CAP.
Note 5. Enter the current total receipts for the fund/funds that fall under MS Code
27-39-321. This will apply to all funds that are not levied under the MS
Code 27-39-305 and MS Code 27-39-320. This will be a "catch all" for
the remaining funds. As a "rule of thumb" IF a Levy is NOT specifically
exempted, then it IS included in this section for purposes of the 110%
CAP. Revenues from newly constructed properties or existing properties
added to the rolls or properties previously exempt which were not
assessed in the prior year may be EXCLUDED from this limitation.
Note 6. MS Code 27-39-321, also applies to: (1)Garbage Collection and
Disposal Levy, (2)The portion of the Economic Development District levy
that is paid to General Fund (3) The Water/Sewer/Garbage/Fire
Protection Dist. (4) Proceeds from notes issued to offset Hurricane
Katrina Indebtness (5) Rental Vehicle Tax (6) Shore and Beach
Preservation District (commonly known as Seawall Tax) (7) Pearl River
Basin Development District levied under MS Code 51-11-31 (8) T.V.A.
payments in lieu of taxes not used for capital improvements per MS
Code 27-39-305. MS Code 27-39-321 DOES NOT apply to County
Cooperative Service District (2) Railroad Authority tax (3) Assessment of
Railroads and other Public Service Corps. under MS Code 27-35-309 (4)
T.V.A. payments in lieu of taxes used for Capital Improvements under
MS Code 27-39-305 (5) Levy to offset Reappraisal Cost under MS Code
27-39-325 (6) Tax receipts used to pay Junior College loans pledged
under MS Code 37-29-103 (7) County Library under MS Code 39-3-5 (8)
Countywide levy for roads and bridges under
MS Code 27-39-305 (9) Mandatory levies to which MS Code 27-39-320
apply (10) Mandatory Levy under MS Code 27-39-329.
Note 7. If the combined levy increases under MS Code 27-39-305, 27-39-320,
and 27-39-321 do not exceed the allowed 10% increase then no further
testing is needed. If the combined levy exceeds the 10% increase
limitation, each of the three (3) Levies need to be tested individually to
determine which one exceeds the 10% increase limitation.
Note 8. Except for MS Code Section 27-39-320, the 10% increased limitation
may be increased by an additional amount where the board of
supervisors has determined the need for additional revenues and has
held an election on the question of raising the limitation.
Note 9. Under MS Code 27-39-321, taxes levied for school district purposes
under any statute and taxes levied for the maintenance and/or
construction of roads and bridges under MS Code 27-39-305 shall be
excluded from the 10% increase limitation. Taxes levied for payment of
principal and interest on general obligation bonds issued shall be
excluded from the 10% increase limitation.
Note 10. As an alternative under MS Code 27-39-321, the governing authority
may, without an election, increase the ad valorem tax by the greater of:
(1). An ad valorem tax levy that does not result in an aggregate levy in
excess of 20 mills. (2). An ad valorem tax levy that is not in excess of
any aggregate levy in any one (1) of the previous ten (10) fiscal years.