If the taxing unit is affected by a disaster and certain requirements are met, the governing body of the taxing unit may direct the voter-approval tax rate to be calculated in the manner provided for a special taxing unit. Check out the TCJA overview! As in the first year, the Comptroller's office supplies this amount on request.81 Unlike the first year, there is no 95 percent adjustment. For a payment of $1,250 or more, the penalty is 2 percent of the payment amount. Other taxing units calculate a no-new-revenue M&O rate by dividing the adjusted prior years levy by the adjusted prior year's total taxable value used to calculate the no-new-revenue tax rate and multiplying it by the prior year's M&O rate, and then dividing the product by the adjusted current year's taxable value to get the current year's no-new-revenue M&O rate. Some taxing units must perform special steps that allow them to adjust their voter-approval tax rates. } The taxing unit subtracts a sales tax adjustment rate.77 [See Tax Rate Calculation Example 9 (PDF)], To calculate the no-new-revenue M&O rate, add the last year's sales tax revenue spent on M&O to the adjusted M&O levy. 04-20-2020 02:56 PM. agriculture, etc. You should immediately contact the Comptroller's Enforcement Division by visiting your local Comptroller's field office or calling 800-252-8880. 6 On January 1 of each year, the Arizona Department of Revenue (ADOR) will add any outstanding interest as of that date to the principal amount of tax still owed. A county may increase its no-new-revenue M&O rate, and therefore its voter-approval tax rate, for funds used to pay for the state criminal justice mandate, indigent health care, indigent defense and a county hospital. Any court-ordered refunds made in the prior year must be included as a separate step in the tax rate calculation.18, Lost Property Information regarding water district calculations can be found in the Water District Voter-Approval Tax Rate section below.