Setting a Tax Rate Module 4

Getting Started!!! TEA has a worksheet entitled : Worksheet to Assist Districts in Calculating Rollback Rate

Adopting a school district’s tax rate School districts must follow the notice and hearing requirements of Education Code Section

Cont’d Section sets out the items to include in the budget hearing and proposed tax rate notice.

(cont’d) The “Notice of Public Meeting to Discuss Budget and Proposed Tax Rate” is published 10 to 30 days before the date of the public meeting in the local newspaper.

Adopt the tax rate in a public meeting Open meetings notices: The school district must post notice of the meeting and it must be open to the public

(cont’d) Agenda item: Adoption of the tax rate must be a separate item on the agenda for the meeting. The district may adopt the budget and set a tax rate at the same meeting as long as the budget is adopted first.

Rollback elections School districts are required to hold automatic rollback elections if the school board adopt tax rates above their rollback rates.

Planning Calendar May____ Mailing of notices of appraised value by chief appraiser. May 15—Deadline for submitting appraisal records to ARB (Appraisal Review Board)

Planning Calendar (cont’d) June 7—Deadline for the chief appraiser to certify an estimated taxable value if the school district changed to a July 1 fiscal year. July 16—Deadline for Commissioner of education to send notice to districts required to equalize wealth

Planning Calendar (cont’d) July 22– Deadline for ARB to approve appraisal records July 25– Deadline for chief appraiser to certify rolls to taxing units _____Certification of anticipated collection rate by collector.

Planning Calendar (cont’d) ____Calculation of rollback tax rate ____72-hour notice for meeting (Open Meetings Notice) ____Meeting of governing body to decide on public meeting date on budget and proposed tax rate.

Planning Calendar (cont’d) ____”Notice of Public Meeting To Discuss Budget and Proposed Tax Rate” published 10 to 30 days before public meeting ____72 hour notice for public hearing ____Public meeting on budget and proposed tax rate. (The budget and tax rate can be adopted at the same meeting)