In this issue TEA Releases Preliminary TY2024 “Maximum Compressed Rates” (MCR) Franchise/Margin Tax Report Extensions Taxable as Data Processing or Not? Texas Education Agency Releases Preliminary TY2024 “Maximum Compressed Rates” (MCR) The Texas Education Agency has released preliminary MCR (tier 1) tax rates for TY2024. The statewide MCR tax rate dropped to $0.6855 (from $0.6880),…

In this issue Authority of an Appraisal District Board of Directors Comptroller’s Office Proposed Rules Economic Development Highlights Authority of an Appraisal District Board of Directors On July 22, the Tarrant Appraisal District (TAD) board of directors (BOD) held its first meeting to include directors in the three elected positions created by a November 2023…

Voter-Approval Tax Rate Elections (VATRE) School boards across the state are working to adopt budgets for the upcoming school year and tax rates to finance them. Many school boards are adopting a tax rate that exceeds the district’s “voter-approval tax rate” to provide more revenue for expenses such as employee pay raises, increasing current staffing…

School boards are required to adopt a budget and tax rate to finance that budget each year. As part of that process, the school board is required to calculate a “voter-approval tax rate” (previously known as the “rollback” rate).

In this issue New Audit Guidance Issued by Comptroller’s Tax Policy Division PTAD Provides Updated Truth-In-Taxation Forms Reminder: Upcoming Meetings and Events New Audit Guidance Issued by Comptroller’s Tax Policy Division Last week, the Comptroller’s Tax Policy Division issued an audit guidance memo related to chemical plant and petrochemical refinery utility studies and plant turnarounds….