The overview
The rate breaks down into on a $0.7575 maintenance and operation rate, which is used to fund most district operations, and a $0.45 interest and sinking rate used to service debt.
The $1.20750 rate is a $0.1854 decrease from the FY 2022-23 rate of $1.3929.
District officials originally proposed a rate of $1.3057, but the lower tax rate is still expected to support this year's budget.
The rates fund $116.18 million in planned expenditures for the 2023-24 school year's operating budget that was passed in June.
What they're saying
HISD's Chief Financial Officer Caleb Steed clarified that the state will likely not provide any additional funds for education this year, unless associated with a specific mandate such as House Bill 3.
"The only additional funds which I will be bringing in an amendment will either be because of student growth or because some of the legislation changes when it comes to safety and security," Steed said.
