Reminder from Omar:

posted on July 16 - 06:10 AM
By Joe - TexasISD.com
 
  • Starting on July 18, 2020 and closing on August 1, 2020, TEA will make available, through their TEAL login system, the Local Property Value Survey which districts must use to report data that will allow TEA to calculate the district’s Tier I compressed tax rate
    According to TEA: “Once the district has submitted the data to TEA and received approval of the submission through the FSP system, i.e. the district’s LPVS status is “approved”, the MCR may be considered final unless the district chooses to appeal the calculated rate”
  • After all districts have submitted and been approved, I will ask TEA for a file that contains all approved rates and once received, I will load those rates into the appropriate place on the template and make available another release
  • In the meantime, if you need/want to, you can enter your approved rate in Cell D220 on a tab  labeled ‘Calc Data’ and then, everywhere the Tier I compressed rate is used will reference back to that cell
  • Using your approved Tier I compressed rate in Cell D220, your maximum M&O tax rate will be calculated on a tab labeled ‘HB3-RollbackRates’
  • As an FYI, if the district’s adopted M&O rate is less than its maximum M&O tax rate, old law total revenue that is used in the calculation of the Formula Transition Grant will be reduced and will either lower the amount of the Grant or eliminate it altogether
  • Once TEA approves your Tier I compressed rate and once Cell D220 has been changed to reflect that approved rate, your Tier I compressed rate will not be recalculated regardless of what you use as your estimated 2020 “T2”property value or what the Comptroller will ultimately certify as your 2020 “T2” property value

If you any questions or need help with changing Cell D220, please contact me (Omar).