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Form 50876Statements required in notice if the proposed tax rate exceeds the nonewrevenue tax rate but does not exceed the voterapproval tax rate, as prescribed by Tax Code 26.06(b2).NOTICE OF PUBLIC

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How to fill out proposed rate exceeds no-new-revenue

01

Review the proposed rate for any adjustments or changes.

02

Calculate the total revenue generated by the proposed rate.

03

Compare the total revenue to the current revenue to determine if it exceeds the no-new-revenue threshold.

04

If the proposed rate exceeds the threshold, make any necessary adjustments to bring it within the limit.

Who needs proposed rate exceeds no-new-revenue?

01

Government officials responsible for setting tax rates

02

Policy makers working on budget planning

03

Economic analysts studying revenue projections

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What is proposed rate exceeds no-new-revenue?

The proposed rate exceeds no-new-revenue refers to the tax rate that is higher than the rate calculated to generate the same amount of revenue as the previous year, taking into account the growth in property values.

Who is required to file proposed rate exceeds no-new-revenue?

Local governments and taxing entities that plan to set a tax rate exceeding the no-new-revenue rate are required to file documentation regarding this proposed rate.

How to fill out proposed rate exceeds no-new-revenue?

To fill out the proposed rate exceeds no-new-revenue, entities must provide their current and proposed tax rates, the amount of revenue generated from last year, and any additional information that justifies the increase.

What is the purpose of proposed rate exceeds no-new-revenue?

The purpose is to inform the public and relevant authorities of a taxing entity's intention to increase the tax rate beyond what is needed to maintain the same level of revenue, ensuring transparency and compliance with state regulations.

What information must be reported on proposed rate exceeds no-new-revenue?

Entities must report their current tax rate, proposed tax rate, revenue generated last year, estimated revenue from the proposed rate, and any budget justifications or explanations for the increase.

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