Texas HB43 revises the calculation of ad valorem tax rates and the process for approving tax rates exceeding the voter-approval tax rate.

Texas HB43 amends the calculation of certain ad valorem tax rates for taxing units, including the no-new-revenue tax rate and the voter-approval tax rate. It specifies formulas for calculating these rates based on factors like last year's maintenance and operations expense, current total value, new property value, and sales tax loss rate. The bill also modifies the process for approving a proposed tax rate that exceeds the voter-approval tax rate, requiring an election where voters decide whether to approve the tax rate.

Texas HB43 revises the calculation of ad valorem tax rates and the process for approving tax rates exceeding the voter-approval tax rate.

Texas HB43 amends the calculation of certain ad valorem tax rates for taxing units, including the no-new-revenue tax rate and the voter-approval tax rate. It specifies formulas for calculating these rates based on factors like last year's maintenance and operations expense, current total value, new property value, and sales tax loss rate. The bill also modifies the process for approving a proposed tax rate that exceeds the voter-approval tax rate, requiring an election where voters decide whether to approve the tax rate.