Lewisville ISD approves nearly $500M budget, unchanged tax rate

The Lewisville ISD board of trustees on Monday approved a $498.5 million general fund budget.

Chief Financial Officer Mike Ball said at Monday's meeting that the most notable thing about the budget is the district's $34.5 million recapture payment.

Recapture, informally called Robin Hood, is the term for the money the state collects each year from property-rich districts as part of the state's funding formula for public education.

"That is 6.9 percent of our total expenditure budget," he said. "It also means 8.6 cent of every dollar will be returned to the state in the form of recapture."

The property tax rate will remain the same as last year at a total of $1.4075 per $100 in taxable value. The component of the tax rate designated for for maintenance and operations will be $1.04 per $100 valuation, and the tax rate for debt service will be $0.3675 per $100.
By Sherelle Black
Sherelle joined Community Impact Newspaper in July 2014 as a reporter for the Grapevine/Colleyville/Southlake edition. She was promoted in 2015 to editor of the GCS edition. In August 2017, Sherelle became the editor of the Lewisville/Flower Mound/Highland Village edition. Sherelle covers transportation, economic development, education and features.


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