Form 50-251 - 2007 School District Report Of Property Value - Short Form Page 2
Download a blank fillable Form 50-251 - 2007 School District Report Of Property Value - Short Form in PDF format just by clicking the "DOWNLOAD PDF" button.
Open the file in any PDF-viewing software. Adobe Reader or any alternative for Windows or MacOS are required to access and complete fillable content.
Complete Form 50-251 - 2007 School District Report Of Property Value - Short Form with your personal data - all interactive fields are highlighted in places where you should type, access drop-down lists or select multiple-choice options.
Some fillable PDF-files have the option of saving the completed form that contains your own data for later use or sending it out straight away.
ADVERTISEMENT
1
2Form 50-251 (Rev. 08-07/16) (Back)
INSTRUCTIONS
2007 SCHOOL DISTRICT REPORT OF PROPERTY VALUE - SHORT FORM
1. School tax rate. Report the school tax rate here. Separate the maintenance and operations tax rate (M&O) from
the interest and sinking fund tax rate (I&S). The sum of the two tax rates should equal total tax rate.
2. Actual total tax levy. Report the total amount of tax levy shown on your tax roll. Please do not adjust this num-
ber for anticipated delinquent taxes.
3. Tax abatements agreement(s). The owner of property to which an agreement was made under the Property
Redevelopment and Tax Abatement Act is entitled to a tax exemption from taxation of all or part of the value of
the property as provided by the agreement. (Section 11.28, Tax Code) This is the differences between the mar-
ket value and the taxable value of all the abatements granted in your district. Report the number granted and the
value the district lost due to this exemption.
4. Last year’s actual levy lost to a tax deferral of over-65/disabled and/or increasing home taxes. An indi-
vidual is entitled to defer or abate a suit to collect a delinquent tax if he is 65 or older and he owns and occupies
as a residence homestead the property on which the tax subject to the suit is delinquent. (See Section 33.06, Tax
Code.) An individual may defer or abate a lawsuit to collect a delinquent property tax on the portion of the resi-
dence homestead’s appraised value that exceeds the market value of any new improvements and 105 percent of
the homestead’s appraised value for the preceding year. The homeowner must file the application for deferral with
the CA
d
before taxes actually become delinquent. (Section 33.065, Tax Code) Please report the actual amount
the taxpayer is deferring shown on Tax Statement. SEE INSTRUCTION BOOKLET.
5. Top Ten Taxpayers. Please attach a copy of the top ten taxpayers in your district in descending order based on
taxable value of all real and personal property. Reported amounts should represent appraised market and taxable
value.
6. Please complete the “2007 Report on Value Lost Because Of School District Participation in Tax Increment
Financing (TIF)” form for each tax increment reinvestment zone in your school district. Please provide sup-
porting recaps for the base value of taxable property and the current appraised value of taxable property. A copy
of the district’s original inter-local agreement and any amendments for each TIF in which it participates, a copy of
the ordinance designating the TIF and a copy of the written notification as required by Tax Code, § 311.003 (e) must
be provided unless documents were submitted during the previous Property Value Study.
8. Total appraised value lost under the value limitation (Chapter 313, Tax Code). This provision allows school
districts to attract new taxable property by offering a tax credit and an eight-year limitation on the appraised
value of a property for the maintenance and operations portion of the school district property tax. Please com-
plete and enclose the Report on Value Because of Value Limitation Under Chapter 313, Tax Code, to calculate the
value loss.
The person authorized to complete this form should sign it, and include title, phone number
and date signed. Please return the form to the address shown on the first page.
If you need help completing this form, call the Reporting Section at (800) 252-9121.
We will be happy to assist you.
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial