Carroll ISD approves lower tax rate for fiscal year 2022-23

The tax rate is broken down into two parts. The maintenance and operations tax rate is $0.8888 per $100 valuation, and the interest and sinking tax rate, which covers debt payments on capital projects, is $0.33 per $100 valuation. All of the decrease in the tax rate is coming from the maintenance and operations rate, according to CISD.

The property taxes paid on a home valued at $800,000 would be reduced this year by about 3.93% under the new tax rate. According to the district, its certified tax base increased this year by about 9.9%, meaning many homeowners will likely pay more in school property taxes even though the rate was lowered.

The average value of a single-family home in Southlake is $829,807, according to a July report from the Tarrant Appraisal District.

Assistant Superintendent for Financial Services David Johnson gave a presentation on the district's tax rate during the meeting. Of school districts in Tarrant County, CISD had the third-lowest tax rate in fiscal year 2021-22, according to the presentation. CISD follows behind Hurst-Euless-Bedford ISD’s tax rate of $1.1608 per $100 valuation and Azle ISD’s tax rate of $1.2226 per $100 valuation.

As part of its tax rate, the district also adopted six enrichment pennies, one of which is a disaster penny available due to Winter Storm Uri. These extra pennies provide tax revenue to a district and are not subject to recapture payments. Recapture payments redistribute money from property-wealthy districts in Texas to property-poor districts.

CISD’s recapture payment for FY 2022-23 is about $33.7 million.