Hutto ISD’s board of trustees unanimously adopted a tax rate of $1.49835 per $100 of taxable value at its Aug. 22 meeting, marking the district’s fourth consecutive decrease in the previous four academic years.
The established total tax rate of $1.49835 per $100 of taxable value marks a $0.10165 decrease from the 2018-19 year’s rate, which was $1.60. The approved rate marks a 6.35% reduction from the previous year’s rate, according to a July 25 news release.
Thanks to legislation passed by the Texas Legislature, school districts statewide will receive $11.6 billion from House Bill 3, $5 billion of which is intended to go toward property tax relief.
The nearly $1.50 tax rate per $100 valuation is broken into a baseline $1.06 maintenance and operations rate along with a $0.43 interest and sinking tax rate.
In addition to being the district’s fourth consecutive tax rate decrease, the approved rate marks the district’s lowest since the 2009-10 academic year, listed at $1.485 per $100 of taxable value. With the approval of the district’s tax rate, the school district’s 2019-20 budget will go into effect Sept. 1.