Form 50-875 Notice of Public Hearing on Tax Increase - Proposed Rate Exceeds No-New-Revenue and Voter-Approval Tax Rate, but Not De Minimis Rate - Texas

What Is Form 50-875?

This is a legal form that was released by the Texas Comptroller of Public Accounts - a government authority operating within Texas. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form 50-875?
A: Form 50-875 is a notice of public hearing on tax increase in Texas.

Q: What does the notice inform about?
A: The notice informs about a proposed tax rate that exceeds the no-new-revenue and voter-approval tax rate, but not the de minimis rate.

Q: What is the purpose of the public hearing?
A: The purpose of the public hearing is to discuss the proposed tax increase.

Q: What is the no-new-revenue tax rate?
A: The no-new-revenue tax rate is the rate that would generate the same amount of revenue as the previous year's tax rate.

Q: What is the voter-approval tax rate?
A: The voter-approval tax rate is the highest rate that may be adopted without obtaining voter approval.

Q: What is the de minimis rate?
A: The de minimis rate is the rate that is at least 0.04 cents per $100 of taxable value lower than the voter-approval tax rate.

Q: Who is required to send this notice?
A: Government entities in Texas are required to send this notice if their proposed tax rate exceeds the thresholds mentioned.

Q: What happens at the public hearing?
A: At the public hearing, the proposed tax increase is discussed and members of the public can provide feedback or ask questions.

Q: Is the tax increase already approved?
A: No, the tax increase is proposed and subject to public input and approval.