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2022 Tax Rate Calculation WorksheetForm 50856Taxing Units Other Than School Districts or Water DistrictsCity of Taft Annexed SW ___ Taxing Unit Name(361)5283512 ___Phone (area code and number)PO Box
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How to fill out voter-approval tax rate for
How to fill out voter-approval tax rate for
01
Determine the total amount of revenue needed for the project or purpose.
02
Calculate the total taxable value of property in the taxing unit.
03
Divide the total revenue needed by the total taxable value to get the voter-approval tax rate.
04
Fill out the voter-approval tax rate form with the calculated rate.
Who needs voter-approval tax rate for?
01
Local government entities such as cities, counties, school districts, and special districts need the voter-approval tax rate for proposing property tax increases above a certain limit set by state law.
02
Taxpayers and residents in the taxing unit also need to be aware of the proposed tax rate and have the opportunity to vote on it.
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What is voter-approval tax rate for?
Voter-approval tax rate is used to determine the maximum tax rate a taxing unit can adopt without triggering an election.
Who is required to file voter-approval tax rate for?
Local taxing units such as cities, counties, school districts, and special-purpose districts are required to file voter-approval tax rate.
How to fill out voter-approval tax rate for?
To fill out voter-approval tax rate, the taxing unit must calculate the effective tax rate, rollback tax rate, and voter-approval tax rate and submit the necessary forms to the appropriate authorities.
What is the purpose of voter-approval tax rate for?
The purpose of voter-approval tax rate is to provide transparency and allow voters to have a say in determining the tax rate of their local government.
What information must be reported on voter-approval tax rate for?
The voter-approval tax rate report must include the taxing unit's property tax rate, effective tax rate, rollback tax rate, and the calculated voter-approval tax rate.
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