However, PfISD Chief Operating Officer Ed Ramos told the board of trustees in July that homeowners within the district will likely still see higher property tax bills due to rising property values. Initially projected at $16.3 billion in total property value, Ramos reported Aug. 20 that number is now certified at $17.1 billion.
For Texas school districts, tax rates are typically made of two separate tax rates. The maintenance and operation rate pays for daily operations and facility maintenance, while the interest and sinking rate pays for debt incurred by the district to pay for facility construction and upgrades, according to the Texas Education Agency.
PfISD's maintenance and operations rate for FY 2020-21 is listed at $0.9623 per $100 valuation; its interest and sinking rate is listed at $0.46 per $100 valuation.
The district's adopted FY 2020-21 budget amounts to $260.7 million. The cost per student is listed as $9,728, per PfISD documents.
Included in the budget is a 3% district staff raise equal to $6.79 million. New positions created throughout the district accounted for an additional $3.8 million. The district also set aside $545,000 for costs related to the coronavirus pandemic.