Complete the Local Property Value Survey

Screenshot of Local Property Value Survey

Description

Complete the Local Property Value Survey (LPVS) to calculate the Maximum Compressed Rate (MCR), which is used to calculate funding for your district. There are three types of data in the survey: data supplied by the system, values you enter, and values that are calculated.

Note: Before you can complete the Local Property Value Survey, the LPVS administrator must submit the Comptrollers Estimated Property Value Growth (CEPVG) for the selected school year and the 48.2551(a)(2) Expiration of exclusion of district local appraised value under Chapter 311 tax code and Chapter 313 tax code for each district in the selected school year.

Complete the Local Property Value Survey

Select Local Property Value Survey on the Home Page.
Select the school year, and click Update. The status of the form displays, as well as the date the form was last updated, and who performed the update.

Note: If the superintendent and secondary district contracts need revision, click Cancel, and edit the contact information.

Note: In the following screen captures, values that are loaded from the system are indicated in green, values you enter are indicated in blue, and calculated values are indicated in red. The color coding is also replicated in the calculation descriptions.

Enter the certified school district net local taxable property value (current and prior tax years).

Screenshot showing entry of the certified school district net local taxable property values

Calculation

Local Property Value Growth % = (PY1_PRELIM_LPV / PY1_PRELIM_LPV) - 1

The [Current Tax Year] property values no longer subject to a limitation on appraised value under Chapters 311 and 313 are entered by the Administrator to open the survey. You can edit these values if necessary.

Note: These values cannot be greater than the [Current Tax Year] Chief appraiser’s July 25th Certified School District Taxable Value from the Certified Appraisal Roll

Screenshot showing entry of the property values subject to a limitation on appraised value under Chapter 311 and 313

Calculation

Total Exemption expiry = PY1_PV_NO_LIM_CH313 + PY1_PV_NO_LIM_CH311

Growth net of expiring 313 or 311 agreements % = (PY1_PRELIM_LPV / (PY2_PRELIM_LPV + TOTAL_EXEMP_EXP)) - 1

Enter the local optional Homestead Exemption value loss for the current tax year.

Note: This value cannot be greater than 40% of the [Current Tax Year] Chief appraiser’s July 25th Certified School District Taxable Value from the Certified Appraisal Roll.

Screenshot showing entry of the property value subject to a limitation on appraised value under Chapter 313 tax code and the local optional Homestead Exemption value loss fo the 2020 tax year

Calculation

Local Optional Homestead Exemption value change = PY1_LOSS_LOHE - PY2_LOST_LOHE

Click Calculate. Pending final approval by TEA, the value for Maximum Compressed Tax Rate (MCR) will be used in state funding calculations.

Screenshot showing calculated values

Calculations

Tax Year [Current Year] Projected Comptroller School District values for M&O purposes = [(PY2_CERT_M&O * (1+LPV_GROWTH)) + PY1_LOSS_LOHE - PY2_LOST_LOHE]

Local preliminary MCR = ROUND DOWN [ (PY2_CERT_M&O +TOTAL_EXEMP_EXP) * PY_MCR* 1.025 / PY1_PRO_DPV_T2]; if the value is less than or equal to PY_MCR, use PY_MCR

Tax Year [Current Year] State Compression Rate = ROUND DOWN [PY_MCR * (1.025/CEPVG)], where CEPVG is the Comptrollers Estimated Property Value Growth parameter approved in the Local Property Value Survey module for the school year selected.

TEC §48.2552 Tax year [Current Year] Limitation on maximum compressed tax rate = ROUND DOWN (STATE_COMP_RATE *.90)

MCR = STATE_COMP_RATE, if PRELIM_MCR is greater than STATE_COMP_RATE, or = to LIM_COMP_RATE, if the PRELIM_MCR is less than LIM_COMP_RATE; if neither condition is met, use PRELIM_MCR.

Fix any errors. If you receive a warning during calculation, you can still proceed, however, you might note or correct the issue. You can click Save to save the form to work on at a later time.
When you are ready, enter any comments in the District Comments box, and click Submit to District Approver to send the calculated MCR to the administrator for review.

Screenshot showing comment area of the local property value survey

If the Administrator returns the survey for changes, comments display in the Admin Comments box. When you have fixed the issues, click Submit to District Approver.

Error Messages

Errors that occur from calculation must be corrected to continue.

The TY [Prior Tax Year] Chief appraiser’s July 25th Certified School District Taxable Value from the Certified Appraisal Roll cannot be $0.00, please check your entry and correct the value.
The TY [Current Tax Year] Chief appraiser’s July 25th Certified School District Taxable Value from the Certified Appraisal Roll cannot be $0.00, please check your entry and correct the value.
The TY [Current Tax Year] property value no longer subject to a limitation on appraised value under Chapter 313, tax Code cannot be greater than the TY [Current Tax Year] Chief appraiser’s July 25th Certified School District Taxable Value from the Certified Appraisal Roll, please check your entry and correct the value.
The TY [Current Tax Year] property value no longer subject to a limitation on appraised value under Chapter 311, tax Code cannot be greater than the TY [Current Tax Year] Chief appraiser’s July 25th Certified School District Taxable Value from the Certified Appraisal Roll, please check your entry and correct the value.
The Local Optional Homestead Exemption value loss has a cap at 20% of the TY [Current Tax Year] Chief appraiser’s July 25th Certified School District Taxable Value from the Certified Appraisal Roll, please check your entry and correct the value.

Warning Messages

If you receive a warning during calculation, you can still proceed, however, you might note or correct the issue.

The TY [Current Tax Year] Chief appraiser’s July 25th Certified School District Taxable Values from the Certified Appraisal Roll differs from the TY [Prior Tax Year] Chief appraiser’s July 25th Certified School District Taxable Values from the Certified Appraisal Roll by more than 50%.
The Local Optional Homestead Exemption value loss for the TY [Current Tax Year] should not be greater than 20% of the Chief appraiser’s July 25th Certified School District Taxable Values from the Certified Appraisal Roll.
The TY [Prior Tax Year] Chief appraiser’s July 25th Certified School District Taxable Values from the Certified Appraisal Roll differs from the TY [Prior Tax Year] Comptroller’s Certified School District taxable values by more than 50%.