The Argyle ISD board of trustees approved a lower property tax rate during its Sept. 19 board meeting.

The board approved a rate of $1.3976 per $100 valuation. That tax rate includes a $0.8976 maintenance and operating rate and a $0.5 interest and sinking rate.

The tax rate is lower than last year’s $1.4 tax rate. Though the rate is lower, it is anticipated to bring in more funding because of the higher home valuations determined by the Denton County Appraisal District, said Liz Stewart, the district’ chief financial officer.

The new tax rate takes into account the bond that AISD voters approved in May. The $267.89 million bond called for the construction of new campuses, a new stadium and indoor activity center among a number of other items.

The tax rate goes to fund the district’s $71.31 million budget, which looks to have a $1.34 million deficit.