The rate breaks down into a $0.9429 maintenance and operation rate, which is used to fund most district operations, and a $0.45 interesting and sinking rate used to service debt.
The $1.3929 rate is a decrease from the FY 2021-22 rate of $1.4203. However, district materials indicate the average homeowner can expect an annual increase of approximately $368 in their tax bill due to rising property values.
District staff recommended a rate of $1.4029, but the board opted to lower the interest and sinking rate by one cent from the recommendations.
Several trustees expressed a desire to lower the rate further, but they said that would leave the district unable to fund vital projects.
"It's a difficult choice," Trustee Felix Chavez said. "I think the public needs to be aware that we have a tremendous need to build schools."
The board approved a budget in June that assumed a tax rate of $1.4029. The budget will now require an amendment to account for the lower adopted rate.
