The Texas Education Agency has updated information on the TEA’s HB 3 website pertaining to maximum M&O tax rates.
TEA just sent an update clarifying maximum Maintenance & Operations (M&O) tax rates under House Bill 3, which can be found on their HB 3 website.
Per Leo Lopez, RTSBA, Associate Commissioner for School Finance:
"Please visit TEA’s website (tea.texas.gov/HB3) for the most up-to-date presentation on tax rate changes at https://tea.texas.gov/WorkArea/DownloadAsset.aspx?id=51539630861 and the most up-to-date tax rate template at https://tea.texas.gov/WorkArea/DownloadAsset.aspx?id=51539631119.
Previous communications related to tax rates showed maximum M&O tax rates rounded (up) to four decimals for purposes of illustrating concepts related to tax compression. These communications were not intended to give districts permission to levy tax rates above their voter approval tax rates. Districts should consult with their attorneys during the tax rate setting process to ensure they comply with the Education Code and the Tax Code when making decisions about truncating adopted tax rates.
If you have any questions related to this listserv message on Tax Rate Changes under HB 3, please contact the Al McKenzie or Sara Kohn in the Division of Forecasting and Fiscal Analysis by phone at (512) 463-9238 or by email at HB3info@tea.texas.gov."
