The newly adopted tax rate is broken down into a maintenance and operations rate, $0.8646, and an interest and sinking rate, $0.269182.
While the actual rate is lower than last year, due to compression—or lowering tax rates as property values rise—it actually amounts to a 7.28% increase in taxes, according to district documents.
“It goes back to our compression factor. As we move up in property value, our M&O rate is compressed,” said Mike Doyle, director of state and federal programs for the district.
The board also approved the certified property values from the Hays, Caldwell and Guadalupe appraisal districts with a notable 19.24% increase in total certified values, according to agenda documents.
The total certified values are as follows:
- Hays: $8.5 billion
- Caldwell: $257.02 million
- Guadalupe: $355.3 million
