Even though Georgetown ISD's tax rate is proposed to stay the same, Georgetown homeowners will likely still find themselves paying more in taxes to the school district than they did last year.
The GISD board of trustees plans to discuss the district’s budget and proposed tax rate June 18. The meeting is open to the public and will be held at 6 p.m. at the GISD Administration Building, 603 Lakeway Drive, Georgetown.
While the tax rate is proposed to remain at $1.4090 per $100 value for the next tax year, the average property owner will likely see an increase in taxes next year as area property values continue to rise.
The average market value of a home this year is $325,538, which is up from $311,771 reported last year, according to the public notice by GISD. Using the same tax rate as this year, the average property owner could see an increase in taxes by $185.25 for next year, according to the document.
The $1.4090 per $100 value tax rate will be divided $1.0800 per $100 value for maintenance of the district and $0.3290 per $100 value to pay for the bonded indebtedness of $323,205,000, the report said.