School board members voted Aug. 26 to approve a property tax rate of $1.337 per $100 valuation for the 2021-22 fiscal year. This is a 5.7% decrease from the 2020-21 rate. The board approved a $387.5 million operating budget in June.
The rate includes $0.872 for the maintenance and operations fund and $0.465 for the interest and sinking fund. The approved tax rate will collect on average $4,939 in property taxes.
The new rate was approved in a 4-3 vote with trustees Anna Smith, Elexis Grimes and Gloria Gonzales-Dholakia in dissent. Trustees had two options for the interest and sinking rate: $0.465 or $0.4625. The difference between the two rates on an average homeowner would have been $9. The approved $0.465 rate is no change to the previous year's rate.
LISD includes areas of Cedar Park, Leander and Austin and spans areas of Travis and Williamson counties. The average home value in LISD is $420,338, but the average taxable value is $369,431 after exemptions, according to the district.
The average taxable home value increased 7.3% from the 2020-21 fiscal year to 2021-22.