TAX RATE ADOPTION & NOTICES

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Imogen Lawrence
5 years ago
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1 Oldham County Judge Don R. Allred TAX RATE ADOPTION & NOTICES!! Submission of Rolls to Taxing Unit!! (a) By July 25 the chief appraiser shall prepare and certify to the assessor the appraisal roll.!! Treatment of Captured Appraised Value and Tax Increment!! Submission of Roll to Governing Body, Effective and Rollback Tax Rates!! Roll and rates must be presented to Commissioners Court by August 1 or as soon as practicable.!$

2 26.05 TAX RATE (a)the county shall adopt a tax rate for the current year before the later of September 30 or the 60 th day after the date the certified appraisal roll is received by the taxing unit. The tax rate consists of two components and must be approved separately. They are: (1) Interest and sinking fund rate (debt service) (2) Maintenance and operation rate (b) A county may not impose property taxes in any year until the governing body has adopted a tax rate for that year by Commissioners Court order. It must be a separate vote from adopting the budget and if the rate exceeds the effective rate it must be a record vote and must be presented as follows: I move that the property tax rate be increased by the adoption of a tax rate of (specify rate), which is effectively a (insert percentage by which the proposed tax rate exceeds the effective tax rate) percent increase in the tax rate TAX RATE CONT. If the order sets a tax rate for maintenance and operations that will exceed the amount of taxes imposed last year it must include the following statement in larger print than the rest of the order: THIS TAX RATE WILL RAISE MORE TAXES FOR MAINTENANCE AND OPERATIONS THAN LAST YEAR S TAX RATE. If the rate exceeds the effective M and O rate, it must also include the statement: THE TAX RATE WILL EFFECTIVELY BE RAISED BY (insert percentage by which the tax rate exceeds the effective rate) PERCENT AND WILL RAISE TAXES FOR MAINTENANCE AND OPERATIONS ON A $100,000 HOME BY APPROXIMATELY $ (insert amount). This must also be placed on your county s website. (d) The county must hold two public hearings if you adopt and tax rate that exceeds the lower of the rollback rate or the effective rate. (Notice by Sec of the local Government code) %$

3 LOCAL GOVERNMENT CODE Proposed Property Tax Rate Notice for Counties (b) (c) (d) (e) A county shall provide notice of the county s tax rate in the manner provided by this section. Providing notice by this Section exempts the county from the notice and publication requirements of Sections 26.04(e), , and 26.06, Tax Code. A county that proposes a tax Rate that does not exceed the lower of the effective tax rate or the rollback rate shall provide the following notice: A county that proposes a tax Rate that exceeds the lower of the effective tax rate or the rollback rate shall provide the following notice: Notice of (insert tax year) tax year proposed property tax rate for (insert name of county). A tax rate of $ per $100 valuation has been proposed by the governing body of (county name). Proposed Tax Rate $ per $100 Preceding Year s Tax Rate $ per $100 Effective Tax Rate $ per $100 The effective tax rate is the total tax rate needed to raise the same amount of property tax revenue for (county name) from the same properties in both the (insert preceding tax year) tax year and the (insert current tax year) tax year. Your taxes owed under any of the above rates can be calculated as follows: Property tax amount = (rate) x (taxable vale of your property)/ 100 For assistance or detailed information about tax calculations, please contact: (insert name, address, telephone number, and website of tax assessor-collector) &$

4 Notice of (insert current tax year) tax year proposed property tax rate for (insert name of county). A tax rate of $ per $100 valuation has been proposed for adoption by the governing body of (county name). This rate exceeds the lower of the effective or rollback tax rate, and state law requires that two public hearings be held by the governing body before adopting the proposed tax rate. Proposed Tax Rate $ per $100 Preceding Year s Tax Rate $ per $100 Effective Tax Rate $ per $100 Rollback Tax Rate $ per $100 The effective tax rate is the total tax rate needed to raise the same amount of property tax revenue for (county name) from the same properties in both the (insert preceding tax year) tax year and the (insert current tax year) tax year. The rollback tax rate is the highest tax rate that (county name) may adopt before voters are entitled to petition for an election to limit the rate that may be approved to the rollback rate. Your taxes owed under any of the above rates can be calculated as follows: Property tax amount = (rate) x (taxable vale of your property)/ 100 For assistance or detailed information about tax calculations, please contact: (insert name, address, telephone number, and website of tax assessor-collector) You are urged to attend and express your views at the following public hearings on the proposed tax rate: 1 st Hearing: (insert time, date & location) 2 nd Hearing: (insert time, date & location) LOCAL GOVERNMENT CODE CONT. (f) (1) a county shall provide the notice required not later than Sept. 1 (A) By publishing the notice in a newspaper having general circulation in the county, or (B) Mailing the notice to each property owner in the county. (2) Post the notice on the Internet website of the county not later than Sept.1 and continuing until the county adopts a tax rate. (g) (h) If notice is published in newspaper: (1) Notice may not be smaller than one-quarter page (2) Headline must be in 24-point or larger type. County shall, on request, provide and information described by Sections 26.04(e) 1-7 of the Tax Code. '$

5 !! Simplified Tax Rate Notice for Units with Low Tax Levies (exempt by L.G.C.)!! Notice, Hearing, and vote of Tax Increase (exempt by L.G.C.)!! Supplemental Notice of Hearing on Tax Rate Increase County shall give notice of public hearings of tax increase on website continuously for 7 days prior the public hearings and at least 7 days immediately before the date of the vote proposing the increase in the tax rate.!! Election to Repeal Increase If the county adopts a tax rate that exceeds the rollback tax rate the voters by petition may require a rollback election. If submitted within 90 days after adoption of tax rate, the commissioner court must act on the petition within 20 days and if it is valid must order an election be held not less than 30 or more and 90 days to vote to lower the tax rate to the rollback rate or have it remain at the adopted rate.!! Posting of Tax Rates on County s Website The county shall, if you maintain a website, post on the website the tax rates for the most recent five tax years information beginning with 2012 tax year for each taxing unit located in the county. It shall be listed in table form under the heading Truth in Taxation Summary. #$

DATE ISSUED: 1/17/ of 9 UPDATE 112 CCG(LEGAL)-P

DATE ISSUED: 1/17/ of 9 UPDATE 112 CCG(LEGAL)-P Table of Contents Tax Rate Adoption... 2 Maintenance Taxes... 2 Assessor and Collector... 2 Certified Estimate of Values... 2 Appraisal Roll... 2 Truth-in-Taxation Requirements... 3 Tax Rate Adoption Requirements...