State Summary and Individual
School District Taxable Values
Listed by School District and Number (County Order)
Notes on Individual School District Taxable Values
To calculate taxable values, the Comptroller first employed the methods described earlier to estimate a value for each property category. Totaling the category estimates produced the estimated gross value. To reduce the estimated gross value to taxable value, Government Code Section 403.302 requires the Comptroller to subtract:
- total value exempted by state-mandated homestead exemptions;
- value exempted by state-mandated disabled veterans exemptions;
- adjusted value losses arising from the limitations on taxes of residence homesteads owned by person age 65 or older (or the surviving spouse age 55 or older);
- value lost because of tax abatements granted by May 31, 1993, and tax increment financing zones approved before September 1, 1999;
- value lost to freeport exemptions;
- value lost for productivity appraisal;
- value for taxes deferred by homeowners age 65 or older or for homeowners with appreciating homestead values;
- value lost for the residence homestead limitation; and
- other allowable exemptions.
Appraisal and school districts reported total losses arising from each of these exemptions and exclusions. Page 82 of the school district summary shows statewide value totals by category and total deductions for homestead and veterans exemptions, the residence homestead limitation, the over-65 tax limitation, and value lost to tax abatements and other exemptions.
The state summaries show several figures related to rural real property (Category D). These numbers, which reflect the agricultural and timber appraisal laws, show the following:
- market value of acreage that did not qualify for productivity (agricultural or timber) appraisal and farm and ranch improvements,
- productivity value of qualified agricultural acreage, and
- total taxable value of all acreage (the sum of Items 1 and 2).
The state total for "Category D, Rural Real (Taxable)" equals the sum of the productivity value of qualified agricultural and timber land and the market value of other rural real property.
The value lost to limitations for home-owners age 65 or older (or their surviving spouse age 55 or older) arises from a state law that limits the school taxes that over-65 homeowners pay on their residence homesteads. The school taxes cannot increase over the amount the owner paid in the first year that the owner was 65 years old and applied for the exemption on that homestead. As a result, school districts may not levy a tax on the full market value of such properties. These homeowners may also defer paying the taxes on their homesteads until they no longer own or occupy that homestead.
Senate Bill 4, passed by the 76th Texas Legislature and effective September 1, 1999, required certification of two values -- one with only a $5,000 general homestead exemption (T1) and one with the required $15,000 general homestead exemption (T2). The Texas Education Agency uses the T1 value to ensure full reimbursement for school districts that would not otherwise be fully held harmless for the increased losses caused by the additional exemption amount. These school districts receive Tier I state funding only or are budget balanced districts, including Education Code Chapter 41 school districts. The T1 value will not affect funding for other districts.
Senate Bill 4 also required the Comptroller to certify an adjustment for both T1 and T2 for one-half the optional percentage homestead exemption that some school districts grant. These are noted as T3 and T4. The Commissioner of Education may provide for additional funding to these school districts with the optional exemption if (1) funds are specifically appropriated and (2) the appropriated state funds for the Foundation School Program for the school year exceed the state funds distributed to school districts. School districts reported to the Comptroller the value lost for the optional percentage homestead exemption.
1999 Preliminary Property Value Study
School District Summary Worksheet
Category 1998 Value
Finding to TEA
Tax Roll Value
Finding to TEA
A. Single-Family Residences 362,162,177,907 394,025,536,321 399,076,623,668 A B. Multifamily Residences 37,001,990,022 41,540,399,946 42,039,645,028 B C. Vacant Lots 20,363,586,553 21,445,200,799 21,565,527,730 C D. Rural Real (Taxable) 41,809,494,822 44,231,972,394 45,256,814,519 D F1. Commercial Real 122,702,775,534 136,834,823,732 139,901,413,541 F1 F2. Industrial Real 56,232,439,504 56,576,695,881 56,576,695,881 F2 G. Oil, Gas Minerals 35,021,071,071 24,949,669,659 24,758,016,183 G J. Utilities 48,251,529,037 47,801,668,725 48,042,572,165 J L1. Commercial Personal 73,463,863,007 78,590,902,610 78,579,198,432 L1 L2. Industrial Personal 44,548,403,223 45,304,924,126 45,304,924,126 L2 M. Other Personal 2,963,025,848 3,638,039,729 3,638,039,729 M N. Intangible Personal & Uncertified 2,329,839,159 2,129,409,414 2,129,409,414 N O. Residential Inventory 1,554,959,531 1,734,535,645 1,734,535,645 O Subtotals 848,405,155,218 898,803,778,981 908,603,416,061 Less Total Exemptions: 99,210,557,030 105,700,075,700 106,726,806,163 Total Taxable Value: 749,194,598,188 793,103,703,281 801,876,609,898 T2*
* See the final values worksheet for alternative final values (T1, T3, T4), page 83.
Deductions: Sec. 403.302, Texas Government Code Statewide Category D Recap 1999
Local Tax Roll
Finding to TEA
Local Tax Roll
Finding to TEA
Homestead & Vet: 67,231,870,763 67,231,870,763 Mkt Value of Non-Qual
Acres & Frm/Rnch Imprv:
32,017,457,393 32,851,088,229 Cap Value Loss: 3,602,878,339 3,646,252,051 Over-65 Loss: 23,553,026,187 24,536,382,938 Prod Val of Qual Acres: 12,214,515,001 12,405,726,290 Abatements/Other: 11,312,300,411 11,312,300,411 Total Taxable Value: 44,231,972,394 45,256,814,519 Total Deductions: 105,700,075,700 106,726,806,163
1999 Property Value Study
Final Values Worksheet
SB4, passed by the 1999 Legislature, requires the Comptroller to certify alternative measures of school district wealth (T1, T3, and T4) in addition to the traditional measure (T2). Questions about the extent to which any of these wealth measures affect school funding should be directed to the Division of State Funding at the Texas Education Agency, telephone #512/463-9238. T1 Loss to the Additional
T2 50% of the Loss to the Local Optional
Percentage Homestead Exemption
T3 T4 839,090,518,728 37,213,908,830 801,876,609,898 8,545,739,253 830,544,779,475 793,330,870,645
T1 = School District Taxable Value Before the Loss to the Additional $10,000 Homestead Exemption.
T2 = School District Taxable Value After the Loss to the Additional $10,000 Homestead Exemption.
T3 = T1 Minus 50% of the Loss to the Local Optional Percentage Homestead Exemption.
T4 = T2 Minus 50% of the Loss to the Local Optional Percentage Homestead Exemption.