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GLOSSARY OF TERMS
SPECIAL REVENUE FUND. A fund used to TAX LEVY. The result of multiplying the ad
account for proceeds of specific revenue sources valorem property tax rate per one hundred dollars
(other than special assessments, expendable times the tax base.
trusts or for major capital projects) that are legally
restricted to expenditures for specified purposes, TAX RATE. The rate applied to all taxable
or have been segregated by financial policy to be property to generate revenue. The tax rate is
maintained separately. comprised of two components: the debt service
rate, and the maintenance and operations (M&O)
STREET MAINTENANCE SALES TAX. Local rate.
sales tax authorized by voters in November 2003,
pursuant to Chapter 327 of the Texas Tax Code, TAX ROLL. See TAX BASE.
as amended. A tax of 1/8 of one percent
(0.125%) became effective on April 1, 2004, to be TAXES. Compulsory charges levied by the City
used for maintenance and repair of City streets. for the purpose of financing services performed
In November 2007, voters authorized an increase for the common benefit.
in the rate to ¼ of one percent (0.25%).
TIF. Acronym for Tax Increment Financing (see
SUPPLEMENTAL DECISION PACKAGE. See TAX INCREMENT REINVESTMENT ZONE-
DECISION PACKAGE and BUDGET TIRZ).
EHNANCEMENT.
TRINITY RIVER AUTHORITY (TRA). A
−T− separate governmental entity responsible for
providing water and wastewater services in the
TARRANT APPRAISAL DISTRICT. The Tarrant Trinity River basin. The City contracts with TRA
Appraisal District is a separate legal entity that for treatment of wastewater as well as a portion
has been established in each Texas County by of its wastewater collection system for the Big
the State legislature for the purpose of appraising Bear Creek and Cade Branch interceptor sewer
all property within the county or district. All taxing collection mains.
units within Tarrant County use the property
values certified by the TAD. The TAD is −U−
governed by a board of directors, whose
members are appointed by the individual taxing UNEARNED REVENUE. See DEFERRED
units within the district. REVENUE.
TAX BASE. The total value of all real and UNASSIGNED / UNRESERVED FUND
st
personal property in the City as of January 1 of BALANCE. A portion of fund resources that is
each year, as certified by the Tarrant Appraisal not restricted for a specific purpose, or is
District's Appraisal Review Board. The tax base available for appropriation and subsequent
represents the net taxable value after spending.
exemptions. (Also sometimes referred to as
"assessed taxable value.") −V−
TAX INCREMENT REINVESTMENT ZONE
(TIRZ). A special financing and development VOTER-APPROVAL RATE. The rate is
method authorized by Section 311 of the Texas calculated as the no new revenue rate for
Property Tax Code. Tax increment financing operations and maintenance multiplied by 1.035
involves pledging future real property tax plus the proposed debt tax rate. If the City
revenues generated within the specified rein- proposes a rate that exceeds this rate, then it
vestment zone (district). TIRZ revenues are requires voter-approval.
calculated based on the cumulative increase in
taxable values over the district's "base" year −W−
values. (Base year values are established upon
the creation of the reinvestment zone.) Property WORKING CAPITAL. The current assets less
taxes generated from the increase in the taxable the current liabilities of a fund. Working capital
values is pledged to fund improvements and does not include long-term assets or liabilities.
development within the reinvestment zone For budgetary purposes, working capital, rather
(district). NOTE: The terms TIRZ and TIF are than retained earnings, is generally used to
used interchangeably throughout the document. reflect the available resources of enterprise
funds. (See RETAINED EARNINGS.)
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