The details
According to Bryan’s statement, the state of Texas requires a district’s property values to be at 95% of market value for state funding calculations.
“Districts that are lower than the 95% threshold could risk losing some state funding and/or pay a higher amount in recapture,” Bryan said. “TAD is currently projecting CISD’s property values at 83% of market value.”
A closer look
Bryan said school districts do not have control over property appraisals. He added the district has let TAD know that it plans to request a local value study audit, should these projections become final.
According to previous Community Impact reporting, TAD approved a reappraisal plan last August that included conducting reappraisals every two years instead of every year. If CISD has a second consecutive year of not meeting the 95% threshold, it could lead to the state assigning higher property values. That action could not only potentially increase the amount of local tax revenue sent to the state through recapture, it could also result in homeowners in the district paying higher property taxes.
Besides Carroll ISD, five other school districts in Tarrant County have been flagged for being below the market value threshold, according to TAD documents. They include:
- Azle ISD
- Castleberry ISD
- Everman ISD
- Grapevine-Colleyville ISD
- Fort Worth ISD
