50-280 (Rev. 4-22/6) NOTICE OF PUBLIC MEETING TO DISCUSS BUDGET AND PROPOSED TAX RATE The ___________________________F_o_r_t _W_o_r_t_h_I_n_d_e_p_e_n_d_e_n_t_S_c_h_o_o_l_D_i_st_r_ic_t__________________________ will hold a public meeting at _________5_:_3_0_P_M__o_n_A_u_g_u_s_t _2_6,_2_0_2_5_________ in ________t_h_e_F_W__IS_D__D_is_t_ric_t_S_e_r_v_ic_e_C_e_n_te_r_a_t________ ______7_0_6_0_C__am__p_B_o_w_ie__B_lv_d_.,_F_o_r_t W__o_rt_h_, T_X__7_6_1_16_______. The purpose of this meeting is to discuss the school district’s budget that will determine the tax rate that will be adopted. Public participation in the discussion is invited. The tax rate that is ultimately adopted at this meeting or at a separate meeting at a later date may not exceed the proposed rate shown below unless the district publishes a revised notice containing the same information and comparisons set out below and holds another public meeting to discuss the revised notice. Maintenance Tax $____0_.7_8_6_9____/$100 (Proposed rate for maintenance and operations) School Debt Service Tax Approved by Local Voters $____0_.2_4_2_2____/$100 (proposed rate to pay bonded indebtedness) Comparison of Proposed Budget with Last Year’s Budget The applicable percentage increase or decrease (or difference) in the amount budgeted in the preceding fiscal year and the amount budgeted for the fiscal year that begins during the current tax year is indicated for each of the following expenditure categories: Maintenance and operations ___________% increase or ____0_.8_5_____% (decrease) Debt service ___________% increase or ____1_1_.1_2____% (decrease) Total expenditures ___________% increase or ____2_._5_0____% (decrease) Total Appraised Value and Total Taxable Value (as calculated under Tax Code Section 26.04) Preceding Tax Year Current Tax Year Total appraised value* of all property $____8_0_,_6_45_,_2_4_7_,9_0_7_ $____8_2_,_8_1_1,_7_2_0_,2_5_6_ Total appraised value* of new property** $_____1_,_2_8_3_,4_3_0_,3_3_8_ $_____1_,_4_4_0_,8_6_5_,0_6_5_ Total taxable value*** of all property $____5_8_,_4_5_1,_7_9_7_,6_7_4_ $____5_6_,_0_1_6,_8_5_6_,4_9_7_ Total taxable value*** of new property** $______1,_1_6_4_,3_4_2_,5_2_3_ $_____1_,_0_8_9_,9_1_7_,9_5_2_ * “Appraised value” is the amount shown on the appraisal roll and defined by Tax Code Section 1.04(8). ** “New property” is defined by Tax Code Section 26.012(17). *** “Taxable value” is defined by Tax Code Section 1.04(10). Bonded Indebtedness Total amount of outstanding and unpaid bonded indebtedness* $________1_,5_6_2_,1_4_0_,_0_00_________ * Outstanding principal. 50-280 (Rev. 4-22/6) (Back) Comparison of Proposed Rates with Last Year’s Rates Maintenance Interest Local Revenue State Revenue & Operations & Sinking Fund* Total Per Student Per Student Last Year’s Rate $ 0.7869 $ 0 . 2 7 5 5 * $ 1.0624 $ 9,309 $ 5,390 Rate to Maintain Same Level of Maintenance & Operations Revenue & Pay Debt Service $ 0.71190 $ 0.2422 * $ 0.9541 $ 8,504 $ 6,123 Proposed Rate $ 0.7869 $ 0.2422 * $ 1.0291 $ 9,137 $ 6,148 * The Interest & Sinking Fund tax revenue is used to pay for bonded indebtedness on construction, equipment, or both. The bonds, and the tax rate necessary to pay those bonds, were approved by the voters of this district. Comparison of Proposed Levy with Last Year’s Levy on Average Residence Last Year This Year Average Market Value of Residences $ 296,578 $ 284,146 Average Taxable Value of Residences $ 169,079 $ 128,918 Last Year’s Rate Versus Proposed Rate per $100 Value $ 1.0624 $ 1.0291 Taxes Due on Average Residence $ 1,796 $ 1,327 Increase (Decrease) in Taxes $ (470) Under state law, the dollar amount of school taxes imposed on the residence homestead of a person 65 years of age or older or of the surviving spouse of such a person, if the surviving spouse was 55 years of age or older when the person died, may not be increased above the amount paid in the first year after the person turned 65, regardless of changes in tax rate or property value. Notice of Voter-Approval Rate: The highest tax rate the district can adopt before requiring voter approval at an election is ___________$1_._0_2_9_1__________. This election will be automatically held if the district adopts a rate in excess of the voter-approval rate of ___________$_1_.0_2_9_1___________. Fund Balances The following estimated balances will remain at the end of the current fiscal year and are not encumbered with or by a corresponding debt obligation, less estimated funds necessary for operating the district before receipt of the first state aid payment: Maintenance and Operations Fund Balance(s) $ 326,063,088 Interest & Sinking Fund Balance(s) $ 46,792,021 A school district may not increase the district’s maintenance and operations tax rate to create a surplus in maintenance and operations tax revenue for the purpose of paying the district’s debt service. Visit Texas.gov/PropertyTaxes to find a link to your local property tax database on which you can easily access information regarding your property taxes, including information about proposed tax rates and scheduled public hearings of each entity that taxes your property. The 86th Texas Legislature modified the manner in which the voter-approval tax rate is calculated to limit the rate of growth of property taxes in the state.