Free 2008 Report on Value Lost Because of School District Participation in Tax Increment Financing (TIF) - Texas

50-755 09-08/3

Comptroller of Public Accounts · Property Tax Division

2008 REPORT ON VALUE LOST BECAUSE OF SCHOOL DISTRICT PARTICIPATION IN TAX INCREMENT FINANCING (TIF)
Please submit the original of this form for each TIF in which you participate, with a recap of property in the TIF zone, to the Property Tax Division's Reporting Section.

The Property Tax Division's address is P.O. Box 13528, Austin, Texas 78711-3528. Our fax number is (512) 305-9801 or (512) 463-2427. Please direct your questions to the Reporting Section at (800) 252-9121, ext. 6-6160.

All sections of the report must be completed. See instructions on back.

Part I - Identifying Information
School district name ISD# CAD#

Appraisal district name

Part II - Eligibility
Please check your response to the following questions. If the answers to 1, 2, 3 AND either 4a or 4b are "YES" the TIF payment is eligible to be , deducted in the Comptroller's Property Value Study. 1. Is the property eligible for Tax Increment Financing under Tax Code Chapter 311? Yes No 2. Is the property paying taxes into a TIF fund created under a reinvestment zone financing plan approved under Tax Code § 311.011 (d) on or before Sept. 1, 1999? 3. Is the property within the zone boundaries as they existed on Sept. 1, 1999? 4a. Is the property located within a reinvestment zone that was designated on or before May 31, 1999? OR 4b. Is the property located in an area proposed to be in a reinvestment zone described in a written notice sent to governing bodies before May 31, 1999? Yes Yes Yes No No No

Yes

No

Part III - Zone and Finance Plan Information
1. Name and number of TIF zone: 2. Date zone created: 3. Date finance plan approved: 4. School district formula for payment into the TIF (percentage, M&O only, other; attach an explanation if necessary): 5. Number of years school district has participated in TIF: _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________

Part IV - PVS Deduction Calculation
Note - A deduction will be made in the property value study ONLY if the TIF payment is eligible under Part II above.
Appraised Value 1. 2008 value of property in the tax increment zone: 2. Original base year value of property in the tax increment zone: Note: This value should not have changed from the value in the year the zone was designated. 3. Captured taxable value in the zone (#1 less #2): 4. Enter the rate specified in your interlocal agreement to calculate your payment into the tax increment fund. This may be your 2008 tax rate or some other specified rate: 5. 2005 tax rate: M&O: __________ I&S: ___________ Total tax rate: ___________ ____________________________ ____________________________ ____________________________ Taxable Value ____________________________ ____________________________

____________________________

____________________________

6. Multiply #4 by #3 then multiply by .01 and enter the result: 7. Divide #6 by 2008 total tax rate then divide by .01 and enter the result (this amount will be combined with eligible Part IV, Line 7 amounts from any other tax increment zones you reported and the combined amount will be deducted in the Property Value Study):

____________________________

Please provide a copy of the district's original interlocal agreement and any amendments for each TIF in which it participates, a copy of the ordinance designating the TIF and the written notification required by Tax Code § 311.003(e), if not done in a previous year.

Signature of person responsible for completing this form

Print Name

Date

50-755 09-08/3

Instructions

2008 Report on Value Lost Because of School District Participation in Tax Increment Financing (TIF)
Please submit the original of this form for each TIF in which you participate, with a recap of the property in the TIF zone, to the Property Tax Division's Reporting Section. Part I ­ Indentifying Information Complete identifying information Part II ­ Eligibility Please check the boxes that describe your eligibility for the deduction from the Property Value Study. Part III ­ Zone and Finance Plan Information Item 1. Enter the name and number of the TIF zone in which the school district participates. Item 2 Enter the date the TIF zone was designated. Item 3. Enter the date the finance plan was approved. (This date should be before September 1, 1999.) Item 4. School district's formula for payment into TIF. (This may be the current year's tax rate, a percentage of the tax rate, the M & O portion of the tax rate or a set amount per $100. Please attach an explanation if necessary.) Item 5. Enter the number of years the school district has participated in the TIF. Part IV ­ PVS Deduction Calculation Item 1. Enter the 2008 appraised value and taxable value of the property in the TIF zone within the school district. Item 2. Enter the original appraised value and taxable value of the property in the TIF zone within the school district. This value should not have changed from the value in the year the TIF zone was designated. Item 3. Enter the captured taxable value. (Item 1 - Item 2). Per Tax Code §311.012, the tax increment is the amount of property tax levied and collected on the captured appraised value, (i.e. the taxable value). Item 4. Enter the rate or amount per $100 used to calculate the payment into the TIF Fund. (This may be the current year's tax rate, a percentage of the tax rate, the M & O portion of the tax rate or a set amount per $100, etc.) Item 5. Enter your 2005 tax rate broken down by M&O and I&S. Item 6. Multiply the rate or amount (Item 4) by the captured taxable value (Item 3) then multiply by .01 and enter the result. (Item 4 x Item 3 x .01). This amount should be the payment to the TIF fund. Item 7. Divide the payment into the fund (Item 6) by 2008 total tax rate then divide by .01 and enter the result. This eligible amount will be deducted in the PVS. If you participate in more than one TIF, this eligible amount and any other eligible part IV, line 7 amounts will be combined for the PVS deduction.