Enrolled Bill Summary

            House Bill 1520 adds a Tax Code section to provide a simplified tax rate notice for taxing units with low tax levies. It applies to taxing units for which the total proposed tax rate is 50 cents or less per $100 of taxable value and that would impose taxes of $500,000 or less. The act sets out information that must be specified in notices mailed to property owners or published in a general circulation newspaper, including the proposed tax rate and the date, time, and place of the governing body meeting at which the proposal would be considered. It exempts the taxing units from requirements to give notice on such specifics as fund balances, schedule of debt obligations, and the calculation of effective and rollback tax rates. The taxing unit may not adopt a rate higher than that specified in the notice unless it repeats the simplified notice or holds a public hearing on the increase.