In short
Short, plain meanings of words we use on our county and city pages. For how a word applies to one place, see that place’s pages.
| Term | What it means |
|---|---|
| ACFR | Annual Comprehensive Financial Report. A government’s yearly money report, checked by outside auditors. |
| PAFR | Popular Annual Financial Report. A short, plain version of the ACFR. |
| Ad valorem tax | A tax based on value. Property tax is an ad valorem tax. |
| Appraised value | The value the appraisal district sets for your property. |
| Taxable value | Appraised value minus exemptions and caps. Your tax is based on this. |
| Homestead exemption | A cut in the taxed value of the home you live in. The state sets some. Local governments can add more. See exemptions you may be missing. |
| Homestead cap | A state limit: your home’s taxed value can rise no more than 10% a year. |
| Tax rate | Dollars of tax per $100 of taxable value. |
| No-new-revenue rate | The tax rate that would bring in about the same money as last year from the same properties. Used to compare. |
| Voter-approval rate | The highest rate a unit can adopt without an election. For most cities and counties, it allows about 3.5% more money for day-to-day costs. Before 2020 it was the “rollback rate” (8%). See property tax rate limits sb2 history. |
| Tax ceiling (“freeze”) | For 65+ or disabled owners, a limit on school taxes on their home. Some other units adopt one too. See property tax exemptions. |
| Tax deferral | A way for 65+, disabled or disabled-veteran owners to put off paying taxes on their home. Interest still adds up. See help paying property taxes. |
| Delinquency date | The day unpaid tax becomes late. Usually Feb 1. Penalty and interest start then. See property tax calendar. |
| Redemption | Buying back a property after a tax sale. A homestead owner has 2 years. |
| Binding arbitration (RBA) | An appeal after the ARB, decided by an outside arbitrator instead of a court. See after the arb appeals. |
| SOAH | State Office of Administrative Hearings. Hears some appeals of high-value property. See after the arb appeals. |
| Quarter payments | Paying a homestead tax bill in four parts, allowed for 65+, disabled and disabled-veteran owners. See help paying property taxes. |
| M&O rate (maintenance and operations) | The part of the tax rate that pays day-to-day costs. |
| I&S rate (interest and sinking) | The part of the tax rate that pays debt. |
| Appraisal district (WCAD) | The office that values property in the county. It does not set tax rates. |
| ARB | Appraisal Review Board. A panel of residents that hears value protests. See how to protest your appraisal. |
| Tax Assessor-Collector | The county office that sends bills and collects tax for the county and many other local bodies. |
| General fund | A government’s main fund for daily costs. |
| Fund balance | Money left in a fund at year-end. A savings cushion. |
| Debt service | Yearly principal and interest payments on debt. |
| GO bond (general obligation) | Debt backed by property taxes. New GO bonds need a vote. |
| CO (certificate of obligation) | Tax-backed debt with no vote, unless 5% of voters sign a petition. |
| Revenue bond | Debt repaid from a set income, like water bills, not taxes. |
| Refunding bond | New debt sold to pay off old debt, usually at a lower rate. |
| Bond rating | A grade on how likely a borrower is to pay back debt. |
| MUD (municipal utility district) | A local district that runs water, sewer or drainage, often in new neighborhoods. It can tax. |
| ESD (emergency services district) | A local district that pays for fire or ambulance service. It can tax. See emergency services districts. |
| Commissioners Court | The county’s board: the County Judge and four commissioners. |
| Consent agenda | Routine items approved together in one vote. |
| Fiscal year (FY) | A government’s budget year. The county’s runs Oct 1 to Sept 30. |
| Provisional | Our label for facts from a workshop or draft, not a final vote. |
These are plain summaries. The legal meanings are in Texas law (statutes.capitol.texas.gov).
Changes to this page
- Nov. 2, 2026: We re-checked every figure and date against our sources.