14 - 2024 Tax Rate Calculations - Laserfiche WebLink

Home Browse Search

:;3024-1004( lcrjlatron WorlLSheet Taxing Ur i O'fherTl a�1 Sc `a41 Dasfr�cts or V1/a'te�pl to Form30 856 62. - Current year voter -approval tax rate, adjusted for pollution control. Add Line 61 to one of the following lines (as applicable): Line 49, Line D49 (disaster), Line 50 (counties) s with the additional sales tax). unties) or line 58 (taxingunri.......$ 5201 15100 The unused increment rate is the rate equal to the sum ofthe prior 3 years Foregone Revenue Amounts divided by the current taxable value.!' The Foregone Revenue Amount for each year is equal to that year's adopted tax rate subtracted from that year's voter -approval tax rate adjusted to remove the unused increment rate multiplied by that year's current total value. 90 In a year where a taxing unit adopts a rate by applying any portion of the unused increment rate, the portion of the unused increment rate that was used must be backed out of the calculation for that year. The difference between the adopted tax rate and adjusted voter -approval tax rate Is considered zero in the following scenarios: • a tax year in which a taxing.unit affected by a disaster declaration calculates the tax rate under Tax Code Section 26.042; 41 • a tax year in which the municipality is a defunding municipality, as defined by Tax Code Section 26.0501(a);11 or • after Jan. 1, 2022, a tax year in which the comptroller determines that the county implemented a budget reduction or reallocation described by Local Government Code Section 120.002(a) without the required voter approval. 11 Individual components can be negative, but the overall rate will be the greater of zero or the calculated rate. This section should only be completed by a taxing unit that does not meet the definition of a special taxing unit. 4° 63. Year 3 Foregone Revenue Amount. Subtract the 2023 unused increment rate and 2023 actual tax rate from the 2023 voter -approval tax rate. Multiply the result by the 2023 current total value A. Voter -approval tax rate (Line 67)..................................................................................................... B. Unused Increment rate (Line 66) 5 0.4„8208 15100 ..................................................................................................... C. Subtract B from A 5 0.00,681.../5100 .................................................................. ................................................. D. Adopted Tax Rate................................................................................................................... $ 0,47527 -isioo $ 9,47782 E. Subtract D from C................................................................................................................... _,./$loo 5�8fiS1oo F. 2023 Total Taxable Value (Line 60).............................................................................. . ..................... G. Multiply E by F and divide the results by $100 ............. 2 423 343,1 ........................................................................... S 61.795 $ 64. Year 2 Foregone Revenue Amount. Subtract the 2022 unused increment rate and 2022 actual tax rate from the 2022 voter -approval tax rate. Multiply the result by the 2022 current total value A. Voter -approval tax rate (Line 67)..................................................................................................... $.0.,44959 ........./$too B. Unused Increment rate (Line 66) ................ ..................................................................................... 5....... C. Subtract B from A ................................................... ........................................................ D. Adopted Tax Rate ......../$too S 0,44959 /Ston OIT44�276-_ ................................................................................................................... $ /sioo E. Subtract D from C................................................................................................................... $ 0.00681 F. 2022 Total Taxable Value (Line 60).................................................................................................... ....../S1ao „ 233.314,729 $ 2, G. Multiply E by F and divide the results by $100................................................................... .................... $ 152,088 65. Year 1 Foregone Revenue Amount. Subtract the 2021 unused increment rate and 2021 actual tax rate from the 2021 voter -approval tax rate. Multiply the result by the 2021 current total value A. Voter -approval tax rate (Line 67) ..................... $ 0.45373 /Stop ...../$100 B. Unused increment rate (Line 66)..................................................................................................... $.U..��,��.„„„.„_� C. Subtract B from A................................................................................................................... 5,9,,45373 D. Adopted Tax Rate ............................................ � ...,./$100 $945 373—, ....... E. Subtract D from C............................................................................. . -,/$loo /$100 F. 2021 Total Taxable Value (Line 60) .................................................... .............. ..........,... I .� S 2,049,030,824 G. Multiply E by F and divide the results by $100..................................................................................... $ 0... ... Total . ................ Foregone66. Revenue Amount, Add Lines 63G, 64G and 65G ........� m . .. — �.... �... _.-... .._. ---..— ..... $ 213,883 �_.._. a 024 Unused Increment Rate Divide Li ne 66 by Line 21 of the No -New -Revenue Rate Worksheet. Multiply by .. — .. . —. the result 100 — . ....,., $ 0 00831 _ 15too 68. Total 2024 voter -approval tax rate, including the unused increment rate. Add Line 67 to one of the following lines (as applicable): Line 49, _ ........._ Line 50 (counties), Line 58 (taxing units with additional sales tax) or Line 62 (taxing units with pollution) ��. _,,,...., S 0.46032 X5100 "Tex. Tax Code §26.013(b) .Tei Tax Code §26.013(a)(1 -a), (1-15), and (2) "Tex Tax Code §§26.04(c)(2)(A) and 26.042(a) u Tex. Tax Code §§26.0501(a) and (c) "Tex Local Gov't Code §120.007(d) Tex. Local Gov't Code §120.007(d) For additional copies, visit: comptroller.texas.gov/taxes/property-tax Page 8