. -- neil levinson. what you have before you is probably one of the most important pieces of legislation. or several. as it brings in over $1 billion of our general fund as well as the other entities. what we have with these four ordinances is a property tax rate which comes to $1.164 per $100 of assessed value. this is a very slight increase from the prior year. largely as a result of increased debt obligations of the school district. the impact on a home that was assessed at $500 a year before -- $500,000 a year before is approximately $8.62. when you combine the fact that the assessment -- that's a $400,000 is the analysis that we did. is about an $8.62 increase in their taxes from a level of $4,555, to $4,563 rounded. that's as a result of people who have not had other adjustments in their property tax this year would have seen a slight reduction in their assessed value through the automatic cost of living increase. because of an actual negative in the cola, then the slight increase by this rate resu