50-280 (Rev. 01-26/8) NOTICE OF PUBLIC MEETING TO DISCUSS BUDGET AND PROPOSED TAX RATE ______________________K_e_lle_r_ In_d_e_p_e_nd_e_n_t _S_c_ho_o_l _D_is_tr_ic_t_____________________ will hold a public (name of school district) meeting at __________Ju_n_e_ 2_5_, _2_0_26_ _ 5_:0_0_ p_._m_. _________ at ________K_e_ll_er_ I_S_D_ E_d_u_c_at_io_n_ C_e_n_te_r________ (time, date, year) (name of room, building, physical location) in __________________________K_e_lle_r_, T_X__________________________. This meeting is to discuss (city, state) the school district’s budget that will determine the tax rate the school district will adopt. The school district invites public participation in the discussion. The tax rate the school district ultimately adopts 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_5_5_2____/$100 (proposed rate for maintenance and operations) School Debt Service Tax Approved by Local Voters $____0_.3_3_0_0____/$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 ____._64_1_____% (decrease) Debt service ____7_8_.4_4____% increase or ___________% (decrease) Total expenditures ____9_._87_____% increase or ___________% (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 $_____3_4_,0_3_7_,_7_22_,_4_1_2 $_____3_5_,6_4_1_,_28_0_,_1_0_1 Total appraised value* of new property** $_______2_8_3_,_16_5_,_6_2_6 $_______3_3_3_,_04_9_,_4_8_4 Total taxable value*** of all property $_____2_5_,0_4_4_,_74_3_,_0_3_5 $_____2_6_,6_2_1_,_10_9_,_3_1_3 Total taxable value*** of new property** $_______2_2_6_,_05_5_,_8_8_2 $_______3_2_2_,_84_9_,_5_6_1 * Appraised value is the amount shown on the appraisal roll and defned by Tax Code Section 1.04(8). ** New property is defned by Tax Code Section 26.012(17). *** Taxable value is defned by Tax Code Section 1.04(10). Bonded Indebtedness Total amount of outstanding and unpaid bonded indebtedness* $_________6_7_1_,3_7_0_,0_0_0_________ * Outstanding principal. 50-280 (Rev. 01-26/8) (Back) Comparison of Proposed Rates with Last Year’s Rates N/A Maintenance Interest Local Revenue State Revenue and Operations and Sinking Fund* Total Per Student Per Student Last Year’s Rate $ 0.7552 $ 0.3300* $ 1.08520 $ 7,900 $ 4,056 Rate to Maintain Same Level of Maintenance & Operations Revenue & Pay Debt Service $ 0.64561 $ 0.33185* $ 0.97746 $ 8,490 $ 4,753 Proposed Rate $ 0.75520 $ 0.3300* $ 1.08520 $ 8,930 $ 4,809 * The interest and 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 $ 487,296 $ 491,770 Average Taxable Value of Residences $ 388,507 $ 336,596 Last Year’s Rate Versus Proposed Rate per $100 Value $ 1.08520 $ 1.08520 Taxes Due on Average Residence $ 4,216.08 $ 3,652.7 Increase (Decrease) in Taxes $ (563.34) Under state law, the dollar amount of school taxes imposed on the residence homestead of a person age 65 or older or their surviving spouse, if the surviving spouse was age 55 or older when the person died, may not be increased above the amount paid in the frst 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_8_5_2____________. This election will be automatically held (school voter-approval rate) if the district adopts a rate in excess of the voter-approval rate of ___________1_._0_8_5_2___________. (school voter-approval rate) 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 frst state aid payment: Maintenance and Operations Fund Balance(s) $ 45,900,048 Interest and Sinking Fund Balance(s) $ 38,936,136 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. VisitTexas.gov/PropertyTaxes to fnd 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.