Richardson ISD officials adopted a new tax rate of $1.1431 per $100 valuation for the fiscal year 2023-24.

David Pate, assistant superintendent of finance and support services, said it’s the lowest tax rate the district has implemented in 33 years.

The details

The RISD board of trustees voted Sept. 21 to adopt the new tax rate.

In FY 2022-23, the total tax rate was $1.3146 in RISD, about 17 cents higher than the newly adopted rate. Pate said nearly 11 cents of the decrease can be attributed to Senate Bill 2, which is part of a legislative package intended to send billions of dollars to school districts so they can cut taxes for property owners. Voters will see it on their ballots in November.

“This proposed tax rate has been calculated assuming the passage of all the constitutional amendments on Nov. 7,” Pate said during the Sept. 21 meeting, adding that school districts were required by law to calculate tax rates that way.

While the total tax rate of $1.1431 is the lowest the district has seen in 33 years, the individual rate of $0.7931 specifically for maintenance and operations is the lowest the district has had in 39 years, Pate said.

What to expect

The tax bills homeowners receive in October will be based on the new tax rate. However, taxpayers will be notified at the same time of what their tax bill will look like if the amendments do not receive voter approval in November.

“We are effectively electioneering for the state of Texas on this issue,” Pate said at the meeting.