What's happening
RRISD will host information sessions about its voter-approval tax rate election, or VATRE, in October. At these information sessions, district officials will answer questions submitted ahead of time by community members. Officials will also discuss the district's improvement plan.
The sessions will be held on the following dates and times:
- Oct. 3 from 6-8 p.m., virtual
- Oct. 4 from 6-8 p.m. in the McNeil High School cafeteria at 5720 McNeil Drive, Austin
- Oct. 24 from 6-8 p.m. at Stony Point High School at 1801 Tiger Trail, Round Rock
The backstory
Trustees called a VATRE on Aug. 21, to fund additional compensation increases for teachers and staff.
This is the district's first use of this type of tax rate election, the mechanism by which Texas school districts can levy a higher tax rate to generate more property tax revenue.
The tax rate election would be a balm to the district’s ongoing problem of funding as its recapture payments have ballooned from the $14.8 million budgeted toward payment for fiscal year 2021-22 to more than $77 million for FY 2022-23, according to the district.
The breakdown
The proposition would see three “golden pennies” in addition to the five already incorporated into the tax rate added to increase the amount of tax revenue kept by the district. Golden pennies are used to keep tax revenue local with $0.01 per $100 valuation not subject to recapture, or repayment to the state.
The district levied a tax rate of $1.0626 for FY 2022-23 and, should the VATRE pass, will levy a tax rate of $0.919 for FY 2023-24.
