Bill > SB1023

This bill modifies the Texas Tax Code to enhance transparency and accuracy in property tax rate calculations. Specifically, the bill requires that electronic tax rate calculation forms used by taxing units must now include a hyperlink to documentation that verifies the accuracy of each form entry (except for mathematical calculations). Additionally, the bill mandates that for taxing units where tax rates are affected by certain adjustments, these calculations must be performed separately for each reinvestment zone (a designated area for economic development and tax increment financing). The comptroller will be responsible for ensuring that tax rate calculation forms accommodate these zone-specific calculations. The changes will apply to ad valorem (property) tax rates for tax years beginning on or after the bill's effective date of January 1, 2026. These modifications aim to provide more detailed and transparent information about how property tax rates are determined, allowing for greater scrutiny and understanding of local tax calculations.

Budget and Finance, Government Affairs

https://capitol.texas.gov/BillLookup/History.aspx?LegSess=89R&Bill=SB1023