Page 176 - CityofKennedaleFY26AdoptedBudget

Special Revenue Fund - A fund used to account for the proceeds of specific revenue sources (other than
special assessments, expendable trusts or for major capital projects) that are legally restricted to
expenditures for specified purposes.

Tarrant Appraisal District (TAD) – A governing body responsible for appraising property for property tax
purposes within Tarrant County.

Tax Base - The total value of all real and personal property in the City as of January 1st of each year, as
certified by the Appraisal Review Board. The tax base represents net value after all exemptions.

Tax Levy - The resultant product when the tax rate per one hundred dollars is multiplied by the tax base.
Tax Rate - Total tax rate is set by Council and is made up of two components: debt service and
operations rates.

Truth In Taxation – Concept embodied in the Texas Constitution that requires local taxing units to make
taxpayers aware of tax rate proposals and to afford taxpayers the opportunity to limit tax increases.

Truth In Taxation Calculation - Requires taxing units to calculate two rates after receiving a certified
appraisal roll from the chief appraiser.

Voter-Approval Rate - If the governing body of a taxing unit adopts a tax rate that exceeds the voter
approval tax rate, it must automatically hold an election for voters to approve the tax increase.

Working Capital – Current assets minus current liabilities.

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