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You must enter your CDN in cell E1 of the 'LPVS' worksheet first, then fill out the LPVS data entry fields to generate an MCR. Then you can move on to the 'VATR calc' worksheet.
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Version 1 - Makes assumptions about enrolled tax relief legislation under SB 2 (88-2). Due to timing of legislative decisions, the LPVS will calculate MCRs under current law only (88-R). TEA will then make additional calculations prior to publishing the Preliminary MCRs, in accordance with TAC, §61.1000:
---TEA will calculate and make available preliminary maximum compressed tier one tax rates to each school district on or before August 5.
---If TEA receives an appeal of a preliminary maximum compressed tax rate (MCR), TEA will issue a final determination to the school district no later than August 31.
---If TEA does not receive an appeal of a preliminary MCR, the preliminary MCR as determined by TEA automatically becomes the final MCR.

Districts should not proceed with tax rate adoption until the TEA publishes preliminary MCRs. If an appeal is requested then districts should wait for a final MCR determination.

NOTE: If enacted, SB 2 (88-2) increases the homestead exemption; however for purposes of calculating MCRs, local district taxable property values (and calculated estimates of district comptroller property values, i.e., “T2”) for tax year 2023 will reflect the $40,000 exemption under current law (88-R), and not the $100,000 exemption. If voters approve the increased homestead exemption, the state certified "T2" values used to calculate the local share of the FSP will reflect the $100,000 exemption, and will be incorporated into the SOF reports in February 2024.

DISCLAIMER: Nothing stated in this correspondence supersedes the Texas Tax Code, Texas Education Code or the Texas Administrative Code.
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