The Northwest ISD board of trustees unanimously approved the district’s 2022-23 budget at its June 27 meeting.

The budget includes $303.13 million in general fund expenditures, $11.71 million in expenses for food service and $122.95 million in debt service payments.

Because the district’s fiscal year starts July 1, the district had to approve a budget before June 30, according to a staff memo and discussions at the board meeting.

The budget includes a proposed property tax rate of $1.292 per $100 valuation, which is the district’s current rate. That rate consists of $0.872 for maintenance and operations and $0.42 for the interest and sinking fund.

A separate vote on the district’s property tax rate will be held in August after certified appraised values are received in late July. Under Texas law, state officials will set the district’s property tax rate for maintenance and operations.

Jonathan Pastusek, the district’s executive director of financial services, told trustees that NISD’s property tax rate will likely decrease due to the increase in property values.

Preliminary appraisal numbers show the district’s tax base increased 17% from last year to nearly $30.4 billion, according to a presentation at the meeting.

The average market value of residences in the district increased from $334,835 last year to $419,272 this year, according to the district.

Northwest ISD is among the fastest-growing school districts in Texas. Estimates show the district will add another 2,542 students in the fall, bringing its total student population to 30,154. That is a 9.21% growth compared with the 2021-22 school year, according to the district.