LISD’s current property tax rate is $1.51187 per $100 valuation. School district taxes include two rates—the maintenance and operations tax rate and the interest and sinking fund tax rate, which funds debt payments, according to the Texas Education Agency.
LISD’s maintenance and operations tax rate is set at $1.04 per $100 of valuation, and that rate cannot be raised unless there is a tax ratification election, according to district documents.
The interest and sinking fund tax rate is currently set at $0.47187. At a meeting Aug. 3 some trustees expressed their support for an option that could reduce the rate to $0.47, bringing the total tax rate to $1.51 per $100 valuation.
“[The lowest debt service model] at least gives us the best way to pay off our debt the quickest while giving a tax decrease, while being able to pay our bills and gives us the option to review it again next year,” trustee Pam Waggoner said.
At the Aug. 23 meeting the board of trustees is expected to make a decision on the tax rate and the public will have the opportunity to comment.