Reports Of Property Value Instructions Page 26
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28which equals $22,875. This is the amount that would be
then multiply by 0.01. Round this value to nearest whole
dollars. (Do not use decimals.)
lost for the rest of the year on this property. The $2,125
would be the 31 days that it was taxable property.
Item 19. Actual total tax levy. Report the total amount of
Item 14. Total value lost to historical exemptions and
tax levy shown on your tax roll. Please do not adjust this
other non-required exemptions. If a structure is desig-
number for anticipated delinquent taxes.
nated as a Recorded Texas Historical Landmark by the
Item 20. Total certified property market value. The ap-
Texas Historical Commission or is designated as a histori-
praisal review board (ARB) has approved the value report-
cally or archeologically significant site in need of tax relief
ed for this property for the tax year submitted.
to encourage its preservation pursuant to an ordinance or
other law adopted by the tax unit’s governing body, by of-
Item 21. Total uncertified property market value (must
ficial action, it may be granted a tax exemption on part or
be included in Item 1, on Page 1, and in the total value
all of the assessed value of the structure and the land nec-
breakdown on Page 4, Item 28). This item is a listing of
essary to access and use the structure (Section 11.24, Tax
properties which are taxable by the taxing unit but which
Code). Report the value lost due to these exemptions and
are awaiting ARB approval. Do not include any totally ex-
describe which exemption(s), if any, is reported in this
empt property.
space. Do not include any loss for specially appraised
properties (public access airport property, recreational
Item 22. Total market value reported to taxing units
park and scenic land, vehicle inventory, residential in-
(must be included in Item 1, Page 1, and on Page 4, Item
ventory, etc.). For these properties, the value arrived at
28). The property is reasonably likely to be taxable by
by special procedures is market value under the prop-
the unit but is not included on the appraisal roll certified
erty tax code. Properties (other than agricultural and
(Section 26.01[d], Tax Code). Do not include any totally
timber) appraised by special procedures should be re-
exempt property.
ported in market value on Page 4 and on Line 1, at the
Item 23. Total 2007 projected payments paid into tax
special value. Agricultural and timber property qualified
increment financing fund(s). Report the total projected
for productivity valuation must be reported at market val-
payments into each 2007 tax increment financing fund
ue on Item 1, Page 1.
in which your district participates (Section 311.013, Tax
Item 15. Value lost to the 10 percent cap on residential
Code). Enter the number of tax increment reinvestment
homesteads. Tax Code Section 23.23 provides that the
zones your city has designated.
appraised value of a residence homestead for a tax year
Item 24. Last year’s actual levy lost to deferral of over-
will be limited to the lesser of either its market value or
65/ disabled and/or increasing home taxes. An individ-
the sum of the market value of any new improvements
ual is entitled to defer or abate a lawsuit to collect a delin-
plus 110 percent per year of the appraised value from the
quent tax if he or she is 65 or older and owns and occupies,
most recent appraisal. The allowance for an annual 10
as a residence homestead, the property on which the tax
percent increase is cumulative—that is, 10 percent times
subject to the suit is delinquent (Section 33.06, Tax Code).
the number of years since the property was last appraised.
An individual may defer or abate a lawsuit to collect a
Therefore, if a homestead increases in value by 20 percent
delinquent property tax on the portion of the residence
in two years, all of the increase can be added to the ap-
homestead’s appraised value that exceeds the market value
praisal roll. This should calculate to be Line 25 minus Line
of any new improvements plus 105 percent of the home-
26. Report the value lost to the 10 percent per year cap on
stead’s appraised value for the preceding year. The hom-
residential homesteads.
eowner must file the application for deferral with the CAD
Item 16. Total taxable value for city tax purposes. This
before taxes actually become delinquent (Section 33.065,
item should reflect the total appraised value in your city
Tax Code). Report the levy lost to tax deferrals for those
after all allowable exemptions have been deducted from
over 65 or increasing home values.
the total value (Item 3).
Item 25. Market value of residence homesteads to which
Item 17. City tax rate. Report the city tax rate here.
the 10 percent cap is applied. Tax Code Section 23.23
Separate the maintenance and operations tax rate (M&O)
provides that the chief appraiser shall retain both the mar-
from the interest and sinking fund tax rate (I&S). The sum
ket value and the capped value of homesteads subject to
of the two rates should equal the total tax rate.
the 10 percent per year cap. This should equal Line 15 plus
Line 26. Report the market value of capped homesteads
Item 18. Calculated tax levy. Multiply the total value for
before application of the cap.
city tax purposes (Item 16) by the total tax rate (Item 17),
Reports of Property Value Instructions
23
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