taxes Property Tax

School and Appraisal Districts Property Value Study 2015 Report

2015 ISD Summary Worksheet

037/Cherokee

037-908/New Summerfield ISD

* This district is in year 1 of the grace period.


Category Local Tax Roll Value 2015 WTD Mean Ratio 2015 PTAD Value Estimate 2015 Value Assigned
A. Single-Family Residences 14,771,460 .9444 15,641,105 14,771,460
B. Multi-Family Residences 0 N/A 0 0
C1. Vacant Lots 1,120,918 N/A 1,120,918 1,120,918
C2. Colonia Lots 0 N/A 0 0
D1. Rural Real(Taxable) 2,975,510 .9218 3,227,841 2,975,510
D2. Real Prop Farm & Ranch 739,710 N/A 739,710 739,710
E. Real Prop NonQual Acres 20,917,790 .9148 22,865,971 20,917,790
F1. Commercial Real 2,552,300 N/A 2,552,300 2,552,300
F2. Industrial Real 4,769,960 N/A 4,769,960 4,769,960
G. Oil, Gas, Minerals 56,827 N/A 56,827 56,827
J. Utilities 16,787,890 .8125 20,662,018 16,787,890
L1. Commercial Personal 2,989,720 N/A 2,989,720 2,989,720
L2. Industrial Personal 1,690,490 N/A 1,690,490 1,690,490
M. Other Personal 1,217,950 N/A 1,217,950 1,217,950
N. Intangible Personal Prop 0 N/A 0 0
O. Residential Inventory 0 N/A 0 0
S. Special Inventory 33,510 N/A 33,510 33,510
Subtotal 70,624,035 77,568,320 70,624,035
Less Total Deductions 10,584,218   11,028,553 10,584,218
Total Taxable Value 60,039,817 66,539,767 60,039,817 T2*

The taxable values shown here will not match the values reported by your appraisal district

See the ISD DEDUCTION Report for a breakdown of deduction values

Government code subsections 403.302 (J) AND (K) require the Comptroller to certify alternative measures of school district wealth. These measures are reported for taxable values for maintenance and operation (M&O) tax purposes and for interest and sinking fund (I&S) tax purposes. For districts that have not entered into value limitation agreements, T1 through T4 will be the same as T7 through T10.

Value Taxable For M&O Purposes

T1 T2 T3 T4
62,272,883 60,039,817 62,272,883 60,039,817


Loss To
the Additional
$10,000 Homestead
Exemption
50% of the loss
to the Local Optional
Percentage Homestead
Exemption
2,233,066 0


T1 = School district taxable value for M&O purposes before the loss to the additional $10,000 homestead exemption

T2 = School district taxable value for M&O purposes after the loss to the additional $10,000 homestead exemption and the tax
ceiling reduction

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

Value Taxable For I&S Purposes

T7 T8 T9 T10
62,272,883 60,039,817 62,272,883 60,039,817

T7 = School district taxable value for I&S purposes before the loss to the additional $10,000 homestead exemption

T8 = School district taxable value for I&S purposes after the loss to the additional $10,000 homestead exemption and the tax
ceiling reduction

T9 = T7 minus 50% of the loss to the local optional percentage homestead exemption

T10 = T8 minus 50% of the loss to the local optional percentage homestead exemption

The PVS found your local value invalid, but local value was certified because your school district is in year one of the grace period.