***SB2 of the 86th Texas Legislature changed wording within the Texas Property Tax Code regarding Truth-In-Taxation. The changes are struck-out in red and replaced with the new verbiage and must be displayed until 2026***
The Adopted Tax Rate is the tax rate adopted by the governing body of a taxing unit.
The Maintenance and Operations Rate is the component of the adopted tax rate of a taxing unit that will impose the amount of taxes needed to fund maintenance and operation expenditures of the unit for the following year.
The Debt Rate is the component of the adopted tax rate of a taxing unit that will impose the amount of taxes needed to fund the unit’s debt service for the following year.
The No-New-Revenue Effective Tax Rate is the tax rate that would generate the same amount of revenue in the current tax year as was generated by a taxing unit’s adopted tax rate in the preceding tax year from property that is taxable in both the current tax year and the preceding tax year.
The Effective Maintenance and Operations Rate is the tax rate that would generate the same amount of revenue for maintenance and operations in the current tax year as was generated by a taxing unit’s maintenance and operations rate in the preceding tax year from property that is taxable in both the current tax year and the preceding tax year.
The Voter Approval Rate Rollback Tax Rate is the highest tax rate a taxing unit may adopt before requiring voter approval at an election.