Notice of Tax Revenue Increase

The Port of Port Arthur Navigation District conducted public hearings on August 29, 2018 and September 5, 2018 on a proposal to increase the total tax revenues of the Port of Port Arthur Navigation District from properties on the tax roll in the preceding year by 30.74 percent.

The total tax revenue proposed to be raised last year at last year’s tax rate of $0.169347 for each $100 of taxable value was $9,591,917.

The total tax revenue proposed to be raised this year at the proposed tax rate of $0.213134 for each $100 of taxable value, excluding tax revenue to be raised from new property added
to the tax roll this year, is $12,466,835.

The total tax revenue proposed to be raised this year at the proposed tax rate of $0.213134 for each $100 of taxable value, including tax revenue to be raised from new property added
to the tax roll this year, is $12,798,252.

The of Port of Port Arthur Navigation District is scheduled to vote on the tax rate that will result in that tax increase at a public meeting to be held on September 19, 2018 at PORT
OF PORT ARTHUR ADMINISTRATION OFFICE, 221 HOUSTON AVENUE, PT ARTHUR, TX at 09:00 AM.

The Port of Port Arthur Navigation District increased its debt requirements after the restructuring of bond obligations and issuance of new debt, Unlimited Tax Improvement Bonds, Series 2017 (authorized by voters in an election held in May 2016 to issue General Obligation Bonds in the aggregate principal amount of $89,950,000, the proceeds of which are being used to finance the costs of projects to acquire, purchase, construct, improve or develop wharves, docks, warehouses, other storage facilities, terminal facilities and other facilities or aids to navigation consistent with or necessary to the operation or development of ports or waterways within the District).