Texas HB250 revises the calculation of ad valorem tax rates and the approval process for tax rates exceeding voter-approval limits.

Texas HB250 amends the calculation of certain ad valorem tax rates for taxing units, including special taxing units and districts. It introduces new formulas for determining the no-new-revenue tax rate and the voter-approval tax rate, which are based on factors like last year's maintenance and operations expenses, current debt rates, and sales tax rates. The bill also modifies the process for approving tax rates that exceed voter-approval limits, requiring an election if certain conditions are met.

Texas HB250 revises the calculation of ad valorem tax rates and the approval process for tax rates exceeding voter-approval limits.

Texas HB250 amends the calculation of certain ad valorem tax rates for taxing units, including special taxing units and districts. It introduces new formulas for determining the no-new-revenue tax rate and the voter-approval tax rate, which are based on factors like last year's maintenance and operations expenses, current debt rates, and sales tax rates. The bill also modifies the process for approving tax rates that exceed voter-approval limits, requiring an election if certain conditions are met.