Texas HB250 modifies ad valorem tax rate calculations and approval processes for certain taxing units.

Texas HB250 amends the calculation of ad valorem tax rates for school districts and other taxing units. It mandates that school districts reduce their tax rates if certain funding levels are exceeded. The bill also revises the formulas for calculating voter-approval tax rates and no-new-revenue tax rates for taxing units, including those imposing additional sales and use taxes. It requires public notices and hearings for proposed tax rate increases and specifies the conditions under which elections must be held to approve or reduce tax rates.

Texas HB250 modifies ad valorem tax rate calculations and approval processes for certain taxing units.

Texas HB250 amends the calculation of ad valorem tax rates for school districts and other taxing units. It mandates that school districts reduce their tax rates if certain funding levels are exceeded. The bill also revises the formulas for calculating voter-approval tax rates and no-new-revenue tax rates for taxing units, including those imposing additional sales and use taxes. It requires public notices and hearings for proposed tax rate increases and specifies the conditions under which elections must be held to approve or reduce tax rates.