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Relating to the procedure by which a taxing unit is required to provide public notice of certain ad valorem tax-related information.
No fiscal implication to the State is anticipated.
HB 1360 would require taxing units to publish in a newspaper (in addition to the taxing unit's website) certain tax rate information. This information includes, but is not limited to, the no-new-revenue tax rate, the voter-approved tax rate, the explanation of how the rates were calculated, a schedule of the taxing unit's debt obligations, and the estimated amount of interest and sinking fund balances.
HB 1360 creates more transparency with respect to tax rates and makes that information more readily accessible to the public. Texas Action supports HB 1360.