FACTS about the Tax Ratification Election or TRE
|
|
- Christal Carpenter
- 7 years ago
- Views:
Transcription
1 FACTS about the Tax Ratification Election or TRE Thank you for visiting our web page to find out the FACTS regarding the TRE that Yantis ISD is having. The following presentation is designed to inform our voters as to why Yantis ISD believes the TRE is necessary. There is some non-factual information out there and we want our voters to be INFORMED and ARMED with the facts when they go to the polls to vote.
2 Yantis ISD Understanding The Tax Ratification Election (TRE)
3 Surviving under the Current School Finance System The Texas Supreme Court has ruled on the lawsuit, and the Legislature will probably not act to change the current school finance system. The probability that we will receive significant additional revenues from the state has gone down. The only way to gain additional funds is through our tax rate
4 Yantis ISD s Plan to generate an additional $230,000 with a $ tax increase
5 Taxes still Frozen on Over 65 and Disabled Homesteads Tax bills on Over 65 or Disabled Homesteads will not go up. They will never go up unless improvements are made to the homestead.
6 M&O Taxes School district tax rates in Texas have two parts, a Maintenance and Operations tax rate (M&O), and an Interest & Sinking (I&S) tax rate. M&O taxes pay the operating expenses of the district, such as salaries, fuel, utilities, supplies, equipment, and contracted services, among others.
7 I&S Taxes Interest and Sinking Fund (I&S) taxes, or debt taxes pay principal and interest on voter-approved bond issues to construct or improve facilities
8 We get the benefit of a $0.13 tax increase with only a $ tax increase because of a penny swap
9 What is a Failsafe Tax Rate Penny Swap A Failsafe Tax Rate Penny Swap protects the ability to make the debt payment if voters do not approve the TRE We really shouldn t drop the debt rate $0.13 unless voters approve the extra money from the additional $0.13 M&O pennies. The failsafe strategy does exactly that.
10 TRE Ballot Language In the TRE, voters will vote for or against approving the ad valorem tax rate of $ per $100 valuation in the Yantis ISD for the current year, a rate that is $0.13 per $100 valuation higher than the rollback tax rate.
11 BUT, there is a legally binding contract already in place with the voters IF the voters approve the $ tax rate, the Board is legally bound to drop the I&S Tax Rate to ZERO and the M&O Tax Rate to $1.17. As mentioned in the previous slide, the $ is to PROTECT the current Tax Rate in case the TRE fails. IF the TRE passes, the overall Tax Rate will be $1.17.
12 Here is how a Tax Swap works Before Tax Swap After Tax Swap M&O I&S M&O I&S $1.04 $.0782 $ $.0782 $.00 Total = $ Total $ BUT the TRE is asking for about 5 cents more to make the total Tax Rate $1.17 ($ $.0518 = $1.17)
13 Yantis ISD s Penny Swap Possibility Penny Swap w/o TRE w TRE Difference Tax Rate Scenarios M&O Rate $ $ $ $ I&S Rate $ $ $ ($0.0782) Total Rate $ $ $ $ Additional M&O $ $0 $230,000 $230,000
14 Yantis ISD voters can maximize State Aid for our students The way Yantis ISD voters can maximize state M&O funding for our children by approving the rate of $1.17 total Tax Rate. Under current law, the M&O Tax Rate cannot be raised above $1.17.
15 The opportunity to generate additional funds occurs now. IF the TRE passes, Yantis ISD can generate an additional $230,000 in M&O funds this year by increasing the M&O rate to $1.17. Currently, Yantis ISD has an M&O rate that is $0.261 lower than its 2005 M&O rate of $ IF the TRE passes, the overall Tax Rate will still be $.021 lower than it was in 2005.
16 An opportunity to reduce our Debt Rate(I&S) occurs now We still have to pay our debt and here is how we do that Current law allows school districts to use I&S and M&O funds balance to pay debt. We can reduce our debt rate by $ cents, from $ to $0.000, by using I&S fund balance for debt payments. State law only allows I&S money to be spent of debt from existing bonds.
17 Leaving Money on the Table If the Board did not adopt the $1.17, the voters would not have the opportunity to generate additional funding. The $230,000 is left on the table in Austin at a time that it is needed.
18 What can $230,000 additional dollars do for Yantis ISD? Maintain Student-Teacher Ratios Maintenance and Improvement of Facilities Try to provide competitive salary and benefits for all staff Reduce effect of lost revenue (ASATR, Funding from increased Homestead Exemption and last year of debt recapture)
19 Impact of Proposed Tax Rate 2015/ /17 Proposed Rate Avg. Home $ 174,410 $ 177,346 Taxable $ 149,598 $ 151,782 Tax Rate $ $ 1.17 Tax $ 1, $ 1, Tax Increase $ Per Year, $8.59 Per Month
20 My homestead is not the average so what is my tax increase? The average home taxable value equals $149,598 Increase of about $105 A home worth half of that would see an increase of about $53. A home worth double the average would see an increase of about $210.
21 Some history on previous HB 1 Rollback Elections In the 10 years of HB1, 576 TREs were called by school districts across the State. The voters in 437 of the elections approved the rate adopted by the board. The voters approved the tax rates in 76% of the elections.
22 Previous HB 1 TREs In the 10 years of HB1, 476 ISDs have called one or more TREs. The voters in 415 of the ISDs ultimately approved the rate adopted by the board. The voters approved the tax rates in 87% of the ISDs.
23 Two Possible Results of the TRE If the majority vote for the $1.2482, $1.17 will be the district s tax rate, because of previous contingent board action to reduce debt rate $ if voters approve the $ The district will have access to over $230,000 in additional funds this year and every year thereafter. If a majority vote against the tax rate of $ the tax rate will be $ The district will not have access to over $230,000 in additional funds this year and every year thereafter.
24 The results of approving the $ tax rate are: 1. A total tax rate of $1.17, because of previous board contingent action to reduce the debt rate by $ if voters approve the $ Significant additional dollars (over $230,000) which will replace state funding cuts 3. The average residential homestead tax bill will increase $ per year. 4. A $ increase in the tax rate that provides the benefit of a $0.13 increase because of the penny swap. 5. Students will benefit from the highest levels of funding ever provided by the state that guarantee Yantis students the same funding as students in Austin and Dallas.
25 Results of not approving the $ tax rate 1. The tax rate will remain at $1.1182, instead of the $1.17 if the $ had been approved 2. The district will not gain an additional $230,000 in state aid this year. 3. The average residential homestead tax bill not increase unless the average value increases. 4. Students will not benefit from the highest levels of funding ever provided by the state that guarantee Yantis students the same funding as students in Austin and Dallas.
26 The Ethics Commission ISDs may not use employee time or ISD funds to encourage voters to ratify or not ratify the TRE tax rate. ISDs may provide factual, unbiased information to the public about the TRE and information related to the TRE. Employee time and district funds may be used by the ISD to provide factual information to the public about the TRE.
27 THANK YOU AGAIN. for visiting our web page and ARMING yourself with the facts. We hope this presentation has helped answer any of your questions and concerns. If you have more questions, please do not hesitate to contact the office at (903) and we will be happy to answer your questions. Dr. Running will meet with you or a group to answer questions in person or on the phone.
ORDINANCE TO SET TAX RATE FOR 2014 (2014-2015 SCHOOL YEAR)
Attachment #1 ORDINANCE TO SET TAX RATE FOR 2014 (2014-2015 SCHOOL YEAR) An ordinance levying an annual ad valorem tax for the year 2014, setting specific tax rates applicable to all real, personal, and
More informationProperty Tax Relief: The $7 Billion Reality
August 2008 Property Tax Relief: The $7 Billion Reality In the spring of 2006, Texas lawmakers passed a massive package of school finance reforms. School tax rates for maintenance and operations were to
More informationAdopting a City Budget and Property Tax Rate Training Austin Texas February 2015
Adopting a City Budget and Property Tax Rate Training Austin Texas February 2015 Leela R. Fireside, Assistant City Attorney, Austin Texas. (contact info: leela.fireside@austintexas.gov or (512) 974-2163)
More informationProperty Tax Levy Law. Mike Sobul, Treasurer Granville EVSD OSBA Capital Conference November 13, 2012
Property Tax Levy Law Mike Sobul, Treasurer Granville EVSD OSBA Capital Conference November 13, 2012 Constitutional Restrictions O. Const. Art. XII, Sec. 2 imposes two primary limitations on real property
More information2012 Truth-In- Taxation
2012 Truth-In- Taxation Susan Combs Texas Comptroller of Public Accounts A Guide for Setting Tax Rates for Taxing Units Other than Schools Texas Property Tax Table of Contents Introduction.... 1 Chapter
More information2016-2017 BUDGET. Our mission is to know every student by name and need. 5515 Ohio Drive Frisco, Texas 75035 www.friscoisd.org
2016-2017 BUDGET Our mission is to know every student by name and need. 5515 Ohio Drive Frisco, Texas 75035 www.friscoisd.org FRISCO INDEPENDENT SCHOOL DISTRICT Frisco, Texas ANNUAL BUDGET FOR FISCAL YEAR
More informationOverview of the School Finance System
What you will learn: Overview of the School Finance System How the state provides financial support for public schools The basics of the Foundation School Program formula system About programs to assist
More informationSTATE OF OKLAHOMA. 2nd Session of the 49th Legislature (2004) AS INTRODUCED
STATE OF OKLAHOMA 2nd Session of the 49th Legislature (2004) HOUSE BILL HB2698: Ferguson AS INTRODUCED An Act relating to schools; amending 70 O.S. 2001, Section 14-108, as last amended by Section 1, Chapter
More informationAdopting a City Budget and Property Tax Rate Training Austin Texas February 2013
Adopting a City Budget and Property Tax Rate Training Austin Texas February 2013 Leela R. Fireside, Assistant City Attorney, Austin Texas. (contact info: leela.fireside@ci.austin.tx.us or (512) 974-2163)
More informationTwo Steps to Long-Lasting Property Tax Relief: The Imperative to Constitutionally Dedicate Surpluses and to Enact Property Tax Reforms
Two Steps to Long-Lasting Property Tax Relief: The Imperative to Constitutionally Dedicate Surpluses and to Enact Property Tax Reforms A Report of the Texas Conservative Coalition Research Institute April
More informationSpecial Taxing Districts The Tax Process The term "taxing district" for the purposes of this section shall mean any political subdivision, municipal corporation, district, or other governmental agency
More informationAustin ISD Frequently Asked Questions FY2013 Preliminary Budget
This document represents the district s commitment to increase the level of transparency that surrounds a complex budget process. The budget supports the district s Strategic Plan, which is the product
More informationThe Economic and Fiscal Impacts Of Texas School District Capital Spending: Opportunities and Challenges under Current 50-Cent Tax Rate Cap
The Economic and Fiscal s Of Texas School District Capital Spending: Opportunities and Challenges under Current 50-Cent Tax Rate Cap Prepared for All Texas School Districts and Funded By Prepared by: Bernard
More informationFebruary 2014 Maintenance & Operations (M&O) Levy Question and Answers, Updated 12-17-13
February 2014 Maintenance & Operations (M&O) Levy Question and Answers, Updated 12-17-13 Where do public schools get their money? We receive our funding from three sources - State, Federal and Local. About
More informationSecond Regular Session Seventieth General Assembly STATE OF COLORADO INTRODUCED HOUSE SPONSORSHIP SENATE SPONSORSHIP
Second Regular Session Seventieth General Assembly STATE OF COLORADO INTRODUCED LLS NO. 1-01.01 Esther van Mourik x1 HOUSE BILL 1-1 Foote and Pettersen, HOUSE SPONSORSHIP Jones and Donovan, SENATE SPONSORSHIP
More information150-303-405 (Rev. 6-09)
A Brief History of Oregon Property Taxation 150-303-405-1 (Rev. 6-09) 150-303-405 (Rev. 6-09) To understand the current structure of Oregon s property tax system, it is helpful to view the system in a
More informationEXPENDITURES BY PROGRAM
PROPERTY TAX FACTS The City of North Salt Lake provides many services and amenities to residents and businesses which improve quality of life and provide a safe environment to live and work. Other services
More informationSCHOOL LOCAL PROPERTY TAX OPTION 1999 Legislation
STATE OF OREGON LEGISLATIVE REVENUE OFFICE H-197 State Capitol Building Salem, Oregon 97310-1347 Research Report (503) 986-1266 Research Report # 5-99 SCHOOL LOCAL PROPERTY TAX OPTION 1999 Legislation
More informationReverse Mortgage and Natural Property Tax Amendment in the Lone Star State
JODIE LAUBENBERG TEXAS HOUSE OF REPRESENTATIVES Constitutional Amendment Election November 5, 2013 Proposition 1, HJR 62: Tax Exemptions for Surviving Spouses of Deceased Veterans The Ballot will Read:
More information2% TAX LEVY CAP (PROPERTY TAX CAP) Board of Education and Public Presentation October 26, 2011 November 30, 2011
2% TAX LEVY CAP (PROPERTY TAX CAP) Board of Education and Public Presentation October 26, 2011 November 30, 2011 Context: Challenges Facing Schools Implementation of a Tax Levy Cap Reduction in State Aid
More informationBudget Comparisons of the Five Largest Cities in Texas. Presented to Budget, Finance, and Audit Committee December 13, 2010
Budget Comparisons of the Five Largest Cities in Texas Presented to Budget, Finance, and Audit Committee December 13, 2010 1 Purpose Briefing provides a comparison of the annual budgets for the five largest
More informationSimply put, the Freeport Exemption provides a property tax exemption on inventory that is detained in Texas for 175 days or less.
Freeport Exemption Simply put, the Freeport Exemption provides a property tax exemption on inventory that is detained in Texas for 175 days or less. Qualified inventory includes goods, wares, ores, and
More informationand residents sixty years of age or older who are surviving spouses
Chapter 2 Tax Levies 2013 Chapter 2: Tax Levies GENERALLY The authority for levying taxes on real property, and for limiting or exempting certain types of real property from taxation, is set forth in Section
More informationOklahoma Ad Valorem. 1 of 14. Central Valuation by Oklahoma Tax Commission: All Public Service Corporations (multiple county impact)
Oklahoma Ad Valorem - Founded Before Statehood And Codified in the 1907 Populist Constitution And Current Laws - Township Assessors in 1894 - County Assessor System Set Up in 1911 - Tax Commission Oversight
More informationProperty Tax Relief 2011: Who Wins? Who Loses?
Property Tax Relief 2011: Who Wins? Who Loses? 2011 Florida League of Cities Annual Conference August, 12, 2011 Alan Johansen 2011 Legislature Passed HJR 381 Amendment 4 on 2012 Ballot - Grants selective
More informationAD VALOREM TAX ADOPTED BUDGET
AD VALOREM TAX ADOPTED BUDGET AGGREGATE TAX RATE AMENDMENT APPROPRIATION ASSESSED VALUE BALANCE FORWARD BALANCE FORWARD - CAPITAL A tax levied on the assessed value of real property (also known as "property
More informationA JOINT RESOLUTION BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS. Section 5, Article VII, Texas Constitution, is amended to read as follows:
By: H.J.R. No. A JOINT RESOLUTION proposing a constitutional amendment relating to establishing the Texas Great Classroom Fund as a sequestered fund, funded by an Education Flat Tax, a Reformed Franchise
More informationProperty Tax Levies. Agenda. Property Tax Overview. There are two types of property subject to taxation:
Property Tax Levies Prepared for the 2013 Annual Local Government Officials Conference April 4, 2013 Tax Equalization Division Ohio Department of Taxation Agenda I: Types of Property Tax II: Inside Millage
More informationHow To Tax Property In Denton
Public Hearings on Proposed Tax Rate August 19, 2014 at 7:00 p.m. and August 26, 2014 at 10:00 a.m. 4 Principles of Truth-In-Taxation Property owners receive notices of increases in their properties appraised
More informationPossible Election Overview
Possible Election Overview Glendale Union High School District 2013-2014 Our Presentation Today Budget Overview Override Election Overview Impact to Staff, Students and Programs District Budget Reductions
More informationA Cost Analysis for Texas Public Schools. Prepared by: Sponsored by: 2008 Update
A Cost Analysis for Texas Public Schools Prepared by: Sponsored by: 2008 Update Table of Contents A Progress Report on Texas Public School Finance 4 Adequacy 4 Equity 7 Capacity 10 How Are Educational
More informationAdministration of Arkansas Property Tax
FSPPC114 Administration of Arkansas Property Tax Property tax is an important source of revenue for local governments, including school districts and county and city governments. Revenue generated by the
More informationSCHOOL FINANCE 101. Presented by Brenda Burkett, CPA, SFO Chief Financial Officer Norman Public Schools. February 2015
SCHOOL FINANCE 101 Presented by Brenda Burkett, CPA, SFO Chief Financial Officer Norman Public Schools February 2015 Budget and Funding Timeline JUN JUL AUG SEP OCT NOV Final State Aid Allocation from
More informationMay 2014 Texas School Bond Elections
May 2014 Texas School Bond Elections What are the individual districts needs? New facilities Renovations Technology Central facilities How much tax revenue can the district generate? Depends on district
More informationPicture Identification in the Polls: Questions and Answers
Picture Identification in the Polls: Questions and Answers The Michigan Supreme Court ruled on July 18, 2007 that a provision of Michigan election law which requires voters to either present picture identification
More informationProperty Tax Real. hio. Taxpayer The tax is paid by all real property owners unless specifically exempt.
108 Property Tax Real Taxpayer The tax is paid by all real property owners unless specifically exempt. Tax Base The tax is based on the assessed value of land and buildings. Assessed value is 35 percent
More informationThe Role of the BUDGET and LEADERSHIP. in Addressing STATEWIDE BALLOT ISSUES BY BOB EICHEM
The Role of the BUDGET and LEADERSHIP in Addressing STATEWIDE BALLOT ISSUES BY BOB EICHEM Government finance departments have their hands full most of the time, but occasionally, a project comes along
More informationContact Information: 3911 Morse Street. Metro: 972-434-2602 Fax: 940-387-4824
Denton Central Appraisal District Contact Information: Chief Appraiser Joe Rogers 3911 Morse Street Denton, Texas 76205 Metro: 972-434-2602 Fax: 940-387-4824 Summary of FY2010 and FY2011 County Tax Rate
More informationBond Refusal in Broward County - Frequently Asked Questions
FREQUENTLY ASKED QUESTIONS The SMART FAQS are provided to answer questions regarding the SMART Initiative and will be updated on an ongoing basis. 1. Q: What is a General Obligation Bond referendum and
More informationArizona Education Funding Formula Basic Essentials. For Those Who Care But Do Not Have an Accounting Degree
Arizona Education Funding Formula Basic Essentials For Those Who Care But Do Not Have an Accounting Degree A Preview The Basic Formula same $ for everyone... sort of The Weights adding dollars for special
More informationIntroduction WI F D F. in the analysis are weighted to compare district and charter
FY2011 FY2011 FY2003 FY2007 FY2011 HI F OR F C C B Grade based on % of Weighted Disparity FY2003 FY2007 FY2011 FY2003 FY2007 FY2011 DE F F F DC Texas D F F Grade based on % of Weighted Disparity Grade
More informationTax Levies Explained: Julie Joyce-Smith, Real Estate Manager, Butler County Auditor s Office April 8, 2015
Tax Levies Explained: Julie Joyce-Smith, Real Estate Manager, Butler County Auditor s Office April 8, 2015 Millage Types Unvoted Millage or Inside Millage: approved by Budget Commission and cannot exceed
More informationCABRILLO UNIFIED SCHOOL DISTRICT RESOLUTION # 01-10
CABRILLO UNIFIED SCHOOL DISTRICT RESOLUTION # 01-10 RESOLUTION OF THE BOARD OF EDUCATION OF THE CABRILLO UNIFIED SCHOOL DISTRICT CALLING AN ELECTION, ESTABLISHING SPECIFICATIONS OF THE ELECTION ORDER,
More informationTEMPORARY TAXES TO FUND EDUCATION. GUARANTEED LOCAL PUBLIC SAFETY FUNDING. INITIATIVE CONSTITUTIONAL AMENDMENT.
PROPOSITION 30 30 TEMPORARY TAXES TO FUND EDUCATION. OFFICIAL TITLE AND SUMMARY PREPARED BY THE ATTORNEY GENERAL TEMPORARY TAXES TO FUND EDUCATION. Increases personal income tax on annual earnings over
More informationVital Questions and Answers on Preserving the Quality of Our Schools and Protecting Our Quality of Life. Visit our website @ www.sarasotacbs.
Vital Questions and Answers on Preserving the Quality of Our Schools and Protecting Our Quality of Life. Visit our website @ www.sarasotacbs.com 1. Does the school district still need the 1 mill? The 1
More informationLEGISLATIVE REVENUE OFFICE H-197 State Capitol Building Salem, Oregon 97310-1347 http://www.leg.state.or.us/comm/lrohome.htm
STATE OF OREGON LEGISLATIVE REVENUE OFFICE H-197 State Capitol Building Salem, Oregon 97310-1347 http://www.leg.state.or.us/comm/lrohome.htm Research Report (503) 986-1266 Research Report #6-99 The New
More informationSchool & Local Public Safety Protection Act of 2012 Governor's Initiative. Our Children, Our Future 2012: The Education Initiative Molly Munger / PTA
What does the initiative do? School & Local Public Safety Protection Act of 2012 Governor's Would increase income tax rates on personal incomes in excess of a quarter million dollars per year, and increase
More informationOVERVIEW OF ARIZONA STATE PROPERTY TAX SYSTEM IN MARICOPA COUNTY
Maricopa County Department of Finance Prepared: 10/22/13 OVERVIEW OF ARIZONA STATE PROPERTY TAX SYSTEM IN MARICOPA COUNTY The following Overview of the Arizona State Property Tax System was prepared by
More informationCorporate Finance & Options: MGT 891 Homework #6 Answers
Corporate Finance & Options: MGT 891 Homework #6 Answers Question 1 A. The APV rule states that the present value of the firm equals it all equity value plus the present value of the tax shield. In this
More information2005 SCHOOL FINANCE LEGISLATION Funding and Distribution
2005 SCHOOL FINANCE LEGISLATION Funding and Distribution RESEARCH REPORT # 3-05 Legislative Revenue Office State Capitol Building 900 Court Street NE, H-197 Salem, Oregon 97301 (503) 986-1266 http://www.leg.state.or.us/comm/lro/home.htm
More informationEqual and Uniform Taxation Not in Texas! Presented By: Alvin Lankford Chief Appraiser Williamson CAD
Equal and Uniform Taxation Not in Texas! Presented By: Alvin Lankford Chief Appraiser Williamson CAD Appraisal District 101 Texas State Law provides for the establishment of appraisal districts within
More informationSchool Finance 101: Funding of Texas Public Schools
Texas Education Agency Office of School Finance School Finance 101: Funding of Texas Public Schools January 2013 Acknowledgements The following Texas Education Agency Office of School Finance staff members,
More informationILLINOIS PARTNERS FOR HUMAN SERVICE CONFERENCE CALLS WITH CAMPAIGN OFFICES FOR SENATOR BRADY AND GOVERNOR QUINN October 18 and October 25, 2010
ILLINOIS PARTNERS FOR HUMAN SERVICE CONFERENCE CALLS WITH CAMPAIGN OFFICES FOR SENATOR BRADY AND GOVERNOR QUINN October 18 and October 25, 2010 Introduction: Based on the fact that community based providers
More informationSCHOOL LOCAL OPTION PROPERTY TAX
STATE OF OREGON LEGISLATIVE REVENUE OFFICE State Capitol Building 900 Court St. NE, Room H-197 Salem, Oregon 97310-1347 Research Report (503) 986-1266 FAX 503-986-1770 www.leg.state.or.us/lro/home.ht m
More informationState of North Dakota Office Of State Tax Commissioner
State of North Dakota Office Of State Tax Commissioner RYAN RAUSCHENBERGER, COMMISSIONER Bismarck, North Dakota July 2015 Schedule of Levy Limitations Applicable To The Authority Of The Political Subdivisions
More informationVoted Property Tax Levies. Agenda. Property Tax Overview. There are two types of property subject to taxation
Voted Property Tax Levies Prepared for the 11 th Annual Local Government Officials Conference April 7, 2010 Shelley Wilson, Executive Administrator Tax Equalization Division Ohio Department of Taxation
More informationProperty FAQs. Where do I pay my property tax? Generally speaking, property taxes are paid to local Tax Collectors where the property is located.
The following is intended to provide general information concerning a frequently asked question about taxes administered by the Mississippi Tax Commission. It is an informal interpretation of the tax law
More information2015 LEVIES & PROPERTY TAX FACT SHEET
2015 LEVIES & PROPERTY TAX FACT SHEET Summary of 2014 Assessed Values and 2015 Levies Property value increases this year were due to a mix of new construction and trends in the market which resulted in
More informationOKLAHOMA. Jeffrey Maiden, Ph.D. University of Oklahoma. Amada M. Palliotta Oklahoma Senate Fiscal Analyst I. GENERAL BACKGROUND.
OKLAHOMA Jeffrey Maiden, Ph.D. University of Oklahoma Amada M. Palliotta Oklahoma Senate Fiscal Analyst I. GENERAL BACKGROUND State The State Aid Formula for Oklahoma School Districts includes a two-tiered
More informationAn Introduction to School Finance in Texas Revised January 2012
An Introduction to School Finance in Texas Revised January 2012 TTARA 400 West 15 th Street, Suite 400 Austin, TX 78701 512/472-8838 512/472-2636 (fax) www.ttara.org Table of Contents Executive Summary
More informationA JOINT RESOLUTION. proposing a constitutional amendment relating to requiring board
By:AAGattis H.J.R.ANo.A A JOINT RESOLUTION 0 proposing a constitutional amendment relating to requiring board certification for appellate judges and justices and to increasing the age and experience requirements
More informationPROP 123 TOOLKIT FOR SCHOOLS & DISTRICTS
PROP 123 TOOLKIT FOR SCHOOLS & DISTRICTS March 2016 Dear School Leader: Expect More Arizona developed this toolkit to help schools and districts communicate with parents and the broader community about
More informationStakeholders in a Business
Name: Class: Date Taken: Total Possible Marks: Stakeholders in a Business Complete the following questions in the time allowed by your teacher QUICK DEFINITIONS Write a short, accurate definition for each
More information2009 SCHOOL FINANCE LEGISLATION Funding and Distribution
2009 SCHOOL FINANCE LEGISLATION Funding and Distribution RESEARCH REPORT #8-09 Legislative Revenue Office State Capitol Building 900 Court Street NE, #143 Salem, Oregon 97301 (503) 986-1266 http://www.leg.state.or.us/comm/lro/home.htm
More informationPERALTA COMMUNITY COLLEGE DISTRICT MEASURE B
PERALTA COMMUNITY COLLEGE DISTRICT MEASURE B BTo provide College of Alameda, YES Laney College, Merritt College and Berkeley City College secure NO funds that cannot be taken by the state, and support
More informationFamilies. 2014 Tax Bill. Provision What Changed? Who Qualifies? What's the Benefit? Working Family Credit. Marriage Penalty Relief
Working Family 2014 Tax Bill Families Increased benefit for all who receive the credit. Simpler calculation that s easier to understand. 330,000 current and 13,000 new single or married taxpayers who meet
More informationCOMMONLY ASKED BOND LAW QUESTIONS. www.bgllp.com Texas New York Washington, D.C. Connecticut Seattle Dubai London
COMMONLY ASKED BOND LAW QUESTIONS 1 Can a City issue general obligation bonds for economic development? Cannot issue general obligation bonds for economic development without an election Economic development
More informationThe City of Houston s Finances Is Now The Time To Raise Property Taxes?
The City of Houston s Finances Is Now The Time To Raise Property Taxes? September 9, 2015 No. 2 Greater Houston Partnership Municipal Finance Task Force Overview On July 24, 2015, the Greater Houston Partnership
More informationSizing Up The 2014-15 Texas Budget: Public Education
August 22, 2013 Sizing Up The 2014-15 Texas Budget: Public Education Chandra Villanueva villanueva@cppp.org Making sure all Texas children receive a high-quality education is key to the future economic
More informationTAX TO FUND EDUCATION AND EARLY CHILDHOOD PROGRAMS. INITIATIVE STATUTE.
PROPOSITION 30 TAX TO FUND EDUCATION AND EARLY CHILDHOOD PROGRAMS. OFFICIAL TITLE AND SUMMARY PREPARED BY THE ATTORNEY GENERAL TAX TO FUND EDUCATION AND EARLY CHILDHOOD PROGRAMS..Increases personal income
More informationOregon Property Tax Statistics Fiscal Year 2012-13
Oregon Property Tax Statistics Fiscal Year 2012-13 150-303-405 (Rev. 3-13) To order additional copies, please contact: Publications Oregon Department of Revenue 955 Center Street NE Salem OR 97301-2555
More informationCity of San Antonio, Texas. FY 2014 Proposed. Debt Management Plan. Presented by Ben Gorzell, Chief Financial Officer.
City of San Antonio, Texas FY 2014 Proposed Budget Worksession Debt Management Plan Presented by Ben Gorzell, Chief Financial Officer September 4, 2013 Types of Debt Issued by the City General Obligation
More informationCity of Ferndale CITY COUNCIL STAFF REPORT
City of Ferndale CITY COUNCIL STAFF REPORT MEETING DATE: June 16, 2014 SUBJECT: Border Gas Tax Resolution to Voters DATE: June 4, 2013 FROM: Sam Taylor, City Clerk PRESENTATION BY: Staff RECOMMENDATIONS:
More informationYavapai County Assessor s Office. Valuing People and Property.
Yavapai County Assessor s Office www.yavapai.us Valuing People and Property. In Prescott: In Cottonwood: 1015 Fair Street 10 S 6th Street Prescott, AZ Cottonwood, AZ (928)771-3220 (928)639-8121 PAMELA
More informationSchool Finance Made Easy Part 1: Educational Instruction and Operation
School Finance Made Easy Part 1: Educational Instruction and Operation Chandra Villanueva Policy Analyst villanueva@cppp.org This slide deck is intended to provide an in-depth overview of the mechanics
More informationCampaign Speech During Elections
Campaign Speech During Elections When campaign season is in full swing, it seems everyone has an opinion. Are there any limits on when and where members of the school community can speak out on election
More informationGCSE Business Studies. Ratios. For first teaching from September 2009 For first award in Summer 2011
GCSE Business Studies Ratios For first teaching from September 2009 For first award in Summer 2011 Ratios At the end of this unit students should be able to: Interpret and analyse final accounts and balance
More informationUnderstanding How Changes in EAV Affect A School District's Tax Rate and Levy This presentation will explain the important relationship between
Understanding How Changes in EAV Affect A School District's Tax Rate and Levy This presentation will explain the important relationship between property values, property tax rates, and property taxes.
More informationCITY OF STEAMBOAT SPRINGS, COLORADO ORDINANCE NO. 1868
CITY OF STEAMBOAT SPRINGS, COLORADO ORDINANCE NO. 1868 AN ORDINANCE PROVIDING FOR THE CREATION AND COLLECTION OF AN EXCISE TAX TO BE PAID AT THE TIME OF ISSUING A BUILDING PERMIT TO OFFSET THE COSTS TO
More informationAiken County Proposed 1 % SALES TAX
Aiken County Proposed 1 % SALES TAX Aiken County is bigger than you think Aiken County Rhode Island Aiken County is actually 28 square miles larger than the state of Rhode Island. Aiken County School buses
More informationANNUAL TOWNSHIP BUDGET For the Year Ending December 31, 2017. Township. Burleigh County, North Dakota C) TOTAL RESOURCES AVAILABLE
ANNUAL TOWNSHIP BUDGET For the Year Ending December 31, 2017 Township Burleigh County, North Dakota A) Cash on hand December 31, 2016 B) Estimated Revenues (2017) Sch.B -line 8 C) TOTAL RESOURCES AVAILABLE
More informationTHE BASE FORMULA PRIOR SCHOOL-YEAR TAX LEVY X TAX BASE GROWTH FACTOR + PILOTS RECEIVED IN PRIOR SCHOOL YEAR
New York s Tax Levy Limit Formula: How does it add up? The quantity change factor, determined by the Dept. of Taxation and Finance for each district by Feb. 1. It s the year-to-year increase in the full
More informationQualified School Construction Bonds. Ed King Vice President
Qualified School Construction Bonds Ed King Vice President About Us The Texas Education & Facilities Fund is a pooled program for tax credit financings (such as QSCBs) and administered by Government Capital
More informationFinancing Education In Minnesota 2013-14. A Publication of the Minnesota House of Representatives Fiscal Analysis Department
Financing Education In Minnesota 2013-14 A Publication of the Minnesota House of Representatives Fiscal Analysis Department November 2013 Financing Education in Minnesota 2013-14 A Publication of the Minnesota
More informationStep 1 Getting Pre-Qualified
Step 1 Getting Pre-Qualified Now that you ve made the decision to purchase a home, the next step is to get pre-qualified from a lending institution, like Michigan Mortgage Solutions, to determine how much
More informationCONTRACT FOR ASSESSMENT AND COLLECTION BETWEEN DALLAS COUNTY, TEXAS AND THE TOWN OF ADDISON
CONTRACT FOR ASSESSMENT AND COLLECTION BETWEEN DALLAS COUNTY, TEXAS AND THE TOWN OF ADDISON PURPOSE: This Contract for Assessment and Collection ( Contract ) is between Dallas County, Texas ( County ),
More informationProposition 38. Tax for Education and Early Childhood Programs. Initiative Statute.
Proposition 38 Tax for Education and Early Childhood Programs. Initiative Statute. OVERVIEW This measure raises personal income taxes on most California taxpayers from 2013 through 2024. The revenues raised
More informationTAX GUIDE 2014-15 INDEX
TAX GUIDE 2014-15 INDEX Why Do You Need Tax Planning? Tax & investment tips for financial year 2014-15 * Income-tax file for one and all * Investments for Hindu Undivided Family tax file in your kitty
More informationNew Property Tax Laws. Amendment One Frequently Asked Questions
The new law includes the following: New Property Tax Laws Double Homestead Exemption: Provides an additional exemption up to $25,000 off the assessed value of the property valued above $50,000. This additional
More informationPensions Freedom. What do the pension changes really mean? This is for information purposes only.
Pensions Freedom What do the pension changes really mean? This is for information purposes only. Pensions Freedom March Budget 2014 introduced unprecedented changes to how pension benefits can be taken
More informationMontana Legislative Fiscal Division. September 19, 2000. Prepared by Greg DeWitt, Senior Fiscal Analyst
Montana Legislative Fiscal Division Highway State Special Revenue Account: Working Capital Update September 19, 2000 Prepared by Greg DeWitt, Senior Fiscal Analyst Highway State Special Revenue Account:
More informationGENERA L OBLIGATION DEBT SERVICE SUMMARY
GENERA L OBLIGATION DEBT SERVICE SUMMARY General Obligation debt is secured by and payable from the receipts of annual ad valorem taxes, within legal limits, on taxable property within the City. The City
More informationA REPORT OF THE ECONOMIC IMPACT OF ABC CORPORATION IN AUSTIN, TEXAS
A REPORT OF THE ECONOMIC IMPACT OF ABC CORPORATION IN AUSTIN, TEXAS Prepared for: XYZ Economic Development Corporation 123 Oak Street Austin, TX 78701 March 5, 2009 Economic Consulting, Research & Analysis
More informationUsing Life Insurance for Pension Maximization
Using Life Insurance for Pension Maximization Help Your Clients Capitalize On Their Pension Plans Marketing Guide HELP YOUR CLIENTS OBTAIN FINANCIAL PROTECTION AND MAXIMIZE THEIR PENSION Pension maximization
More informationOverview of Local Taxes in Texas Prepared for the Senate Committee on Finance November 2002
Overview of Local Taxes in Texas Prepared for the Senate Committee on Finance November 2002 Texans pay a multitude of different taxes to different layers of government, ranging from the federal income
More informationSchool District Bond Issues
MICHIGAN DEPARTMENT OF TREASURY BUREAU OF STATE AND AUTHORITY FINANCE SCHOOL BOND QUALIFICATION AND LOAN PROGRAM 2014 Annual Report Table of Contents 1 Program Overview 3 Statewide Perspective 4 School
More informationOperations Update (Referendum, Count Day, CSR & Budget)
Operations Update (Referendum, Count Day, CSR & Budget) Mike Burke, COO Administrators & Supervisors Meeting September 9, 2014 Referendum Update YOU DECIDE www.palmbeachschools.org For informational purposes
More informationMISSOURI. Gerri Ogle Coordinator, School Administrative Services Department of Elementary and Secondary Education I. GENERAL BACKGROUND.
MISSOURI Gerri Ogle Coordinator, School Administrative Services Department of Elementary and Secondary Education I. GENERAL BACKGROUND State The major portion of state funds for elementary and secondary
More informationTASA Summary of Senate Interim Charges Related to Public Education 84th Legislative Session November 2015
TASA Summary of Senate Interim Charges Related to Public Education 84th Legislative Session November 2015 Senate Education Committee School Choice: Study school choice programs enacted in states across
More informationTASA Summary of House Interim Charges Related to Public Education 84th Legislative Session November 2015
TASA Summary of House Interim Charges Related to Public Education 84th Legislative Session November 2015 House Public Education Committee Examine the effectiveness and efficiency of the Cost of Education
More information