Relating to the requirements regarding notice of certain property tax-related information to be provided by taxing units and appraisal districts.
What changed between versions
Added mandatory comparison statements showing how proposed tax rates affect tax collections compared to previous years, adjusted for population growth and inflation.
Required notices to include specific financial data including budget comparisons, appraised values, outstanding debt, and fund balances for school districts.
Added requirement for taxing units to post notices prominently on their internet websites from the date of first publication until the public hearing concludes.
Modified notice requirements to include specific statements about voter-approval rates and protections for seniors regarding tax increases.
Added requirement for notices to include database information showing individual property tax impacts based on population and inflation adjustments.
Created new definitions for 'adjusted collection rate' and 'adjusted tax collections' to standardize how population growth and inflation are calculated for tax comparisons.
Established effective date of January 1, 2026, for all changes made by this bill.