The Keller ISD board of trustees approved a property tax rate that dropped for the sixth year in a row during a meeting Sept. 26. However, an increase in district property values will bring in more revenue for the district than last year.

The 2022-23 tax rate approved by the board was $1.2729 per $100 property valuation, which is the lowest rate since 1990, according to KISD Chief Financial Officer Scott Wrehe. Last year's rate was $1.344 per $100 valuation.

The new rate is a 5.2% decrease from the 2021-22 school year. The district's maintenance and operation rate is $0.9429, and the debt service portion, also called the interest and sinking rate, is $0.33.

Due to an increase in property values, documents show, the tax rate will effectively increase by 4.87%. Property taxes on a house with a $100,000 valuation will pay $59.10 more this year than the 2021-22 school year, according to a document prepared for the board.