Bastrop ISD property values up 10%; lower tax rate proposed

The proposed 2024-25 tax rate for Bastrop ISD is $0.002 lower than last year, despite property values growing more than 10%.

What’s happening

Dina D. Edgar, Bastrop ISD chief financial officer, presented the drafted tax rate to the Bastrop ISD board of trustees during a meeting Aug. 20.

“Upon adoption of the 2024 tax rate, we will have lowered the [maintenance and operations] tax rate by $0.37 since 2018, all while maintaining a debt service tax rate of $0.40 and passing and issuing bonds in 2021 and 2023,” Edgar said.

Breaking it down

The proposed tax rate is $1.0679—down from $1.0702 in 2023-24.

The breakdown includes:

• $0.6669 for maintenance and operations
• $.04010 for interest and sinking

This comes despite property values in the district climbing from $7.7 billion to $8.5 billion since 2023, and doubling over the past five years.

Next steps

A public hearing for the proposed tax rate is set for the next regular meeting at 5:30 p.m. on Sept. 17 at the Jerry Fay Wilhelm Center for the Performing Arts, 1401 Cedar St. in Bastrop.