Form 50-755 - 2008 - Report On Value Lost Because Of School District Participation In Tax Increment Financing (Tif)
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250-755
09-08/3
Comptroller of Public Accounts • Property Tax Division
2008 REPORT ON VALUE LOST BECAUSE OF SCHOOL DISTRICT
PARTICIPATION IN TAX INCREMENT FINANCING (TIF)
Please submit the original of this form for each TIF in which you participate, with a recap of property in the TIF zone, to the Property Tax Division’s Reporting Section.
The Property Tax Division’s address is P.O. Box 13528, Austin, Texas 78711-3528. Our fax number is (512) 305-9801 or (512) 463-2427.
Please direct your questions to the Reporting Section at (800) 252-9121, ext. 6-6160.
All sections of the report must be completed. See instructions on back.
Part I - Identifying Information
School district name
ISD# CAD#
Appraisal district name
Part II - Eligibility
Please check your response to the following questions. If the answers to 1, 2, 3 AND either 4a or 4b are “YES” , the TIF payment is eligible to be
deducted in the Comptroller’s Property Value Study.
1. Is the property eligible for Tax Increment Financing under Tax Code Chapter 311?
Yes
No
2. Is the property paying taxes into a TIF fund created under a reinvestment zone financing plan approved
under Tax Code § 311.011 (d) on or before Sept. 1, 1999?
Yes
No
3. Is the property within the zone boundaries as they existed on Sept. 1, 1999?
Yes
No
4a. Is the property located within a reinvestment zone that was designated on or before May 31, 1999?
Yes
No
OR
4b. Is the property located in an area proposed to be in a reinvestment zone described in a written notice
sent to governing bodies before May 31, 1999?
Yes
No
Part III - Zone and Finance Plan Information
1. Name and number of TIF zone:
_____________________________________________
2. Date zone created:
_____________________________________________
3. Date finance plan approved:
_____________________________________________
4. School district formula for payment into the TIF
(percentage, M&O only, other; attach an explanation if necessary):
_____________________________________________
5. Number of years school district has participated in TIF:
_____________________________________________
Part IV - PVS Deduction Calculation
Note - A deduction will be made in the property value study ONLY if the TIF payment is eligible under Part II above.
Appraised Value
Taxable Value
1. 2008 value of property in the tax increment zone:
____________________________
____________________________
2. Original base year value of property in the tax increment zone:
____________________________
____________________________
Note: This value should not have changed from the value in
the year the zone was designated.
3. Captured taxable value in the zone (#1 less #2):
____________________________
4. Enter the rate specified in your interlocal agreement to calculate
your payment into the tax increment fund. This may be your
2008 tax rate or some other specified rate:
____________________________
5. 2005 tax rate:
M&O: __________
I&S: ___________ Total tax rate: ___________
6. Multiply #4 by #3 then multiply by .01 and enter the result:
____________________________
7. Divide #6 by 2008 total tax rate then divide by .01 and enter the result
(this amount will be combined with eligible Part IV, Line 7 amounts from
any other tax increment zones you reported and the combined amount
will be deducted in the Property Value Study):
____________________________
Please provide a copy of the district’s original interlocal agreement and any amendments for each TIF in which it participates, a copy of the
ordinance designating the TIF and the written notification required by Tax Code § 311.003(e), if not done in a previous year.
Signature of person responsible for completing this form
Print Name
Date
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