Relating to the calculation of certain ad valorem tax rates of a taxing unit and the manner in which a proposed ad valorem tax rate that exceeds the voter-approval tax rate is approved; making conforming changes.

HB 5502 would change how local governments calculate certain property tax rates and establish a specific approval process for tax rate increases exceeding the rate previously approved by voters. The bill requires taxing units (like cities, counties, or school districts) to follow a defined procedure - such as public hearings or additional voting - to approve rates above the voter-approved limit. This directly affects local governments that set property taxes and the residents who pay them, as it alters the rules for rate calculation and approval. The legislation does not set new tax rates but modifies the existing framework for their implementation.