The Lewisville ISD school board unanimously approved a lower tax rate on Aug. 29.

Board members voted on the district tax rate during its special meeting. The tax rate is $1.2368 per $100 valuation, according to the district. The approved maintenance and operations tax rate will account for $0.8559, and the interest and sinking, or debt service, rate will account for $0.3809.

The new maintenance and operating rate is a decrease from last fiscal year’s $0.9276 rate, while the interest and sinking rate remains the same.

The board also approved the district’s fiscal year 2022-23 budget. The district looks at a projected $578.89 million budget and includes a $15 million shortfall. The board discussed the proposed budget and tax rate during an Aug. 3 budget workshop.

Staff salary increases are included in the FY 2022-23 budget. The board approved a 4% pay increase for campus staff, including teachers, nurses, librarians, counselors, diagnosticians, psychologists, itinerant staff and campus paraprofessionals, during an April 11 meeting. The increase equals $11.9 million, according to the district.