Texas Tax Code
§ 26.013 — UNUSED INCREMENT RATE
TX § 26.013Title 1. PROPERTY TAX CODE · Part D. APPRAISAL AND ASSESSMENT · Ch. 26. ASSESSMENT
Statute text
View on source(a)In this section:
(1)"Actual tax rate" means a taxing unit's actual tax rate used to levy taxes in the applicable preceding tax year. (1-a) "Foregone revenue amount" means the greater of:
(A)zero; or
(B)the amount expressed in dollars calculated according to the following formula: FOREGONE REVENUE AMOUNT = (VOTER-APPROVAL TAX RATE - ACTUAL TAX RATE) x PRECEDING TOTAL VALUE (1-b) "Preceding total value" means a taxing unit's current total value in the applicable preceding tax year.
(2)"Voter-approval tax rate" means a taxing unit's voter-approval tax rate in the applicable preceding tax year, as adopted by the taxing unit during the applicable preceding tax year, less the unused increment rate for that preceding tax year.
(3)"Year 1" means the third tax year preceding the current tax year.
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Legislative history
Acts 2023, 88th Leg., R.S., Ch. 928 (S.B. 2350), Sec. 1, eff. June 18, 2023. Acts 2023, 88th Leg., R.S., Ch. 1168 (S.B. 1999), Sec. 1, eff. January 1, 2024. Acts 2023, 88th Leg., R.S., Ch. 1168 (S.B. 1999), Sec. 2, eff. January 1, 2024.