Texas HB105 modifies ad valorem tax rate calculations and voter approval processes for certain taxing units.

Texas HB105 amends the calculation of ad valorem tax rates for taxing units, including the no-new-revenue tax rate and the voter-approval tax rate. It specifies formulas for these rates based on factors like current debt rates, sales tax revenue rates, and maintenance and operations expenses. The bill also details the conditions under which an election must be held to approve a proposed tax rate that exceeds the voter-approval tax rate. Additionally, it repeals certain sections of the Tax Code and Water Code that previously applied to these tax rates.

Texas HB105 modifies ad valorem tax rate calculations and voter approval processes for certain taxing units.

Texas HB105 amends the calculation of ad valorem tax rates for taxing units, including the no-new-revenue tax rate and the voter-approval tax rate. It specifies formulas for these rates based on factors like current debt rates, sales tax revenue rates, and maintenance and operations expenses. The bill also details the conditions under which an election must be held to approve a proposed tax rate that exceeds the voter-approval tax rate. Additionally, it repeals certain sections of the Tax Code and Water Code that previously applied to these tax rates.