RISD homeowners may still see higher property tax payments despite board approval of a lower rate

Trustees in Richardson ISD adopted a new tax rate at their Sept. 8 meeting. (Courtesy Fotolia)
Trustees in Richardson ISD adopted a new tax rate at their Sept. 8 meeting. (Courtesy Fotolia)

Trustees in Richardson ISD adopted a new tax rate at their Sept. 8 meeting. (Courtesy Fotolia)

The average Richardson ISD homeowner will likely see property tax payments rise despite unanimous board approval of a slightly lower tax rate.

The tax rate for school year 2020-21 is $1.4047 per $100 of assessed property value, which is a decrease from the rate of $1.41835 for school year 2019-20. The new rate will result in an annual increase of $163.76 for the average RISD taxpayer, which is 1.64% more than the average 2019 payment, according to Chief Financial Officer David Pate.

The majority of revenue from RISD property taxes goes toward covering the district’s maintenance and operations, such as salaries and benefits, while the remainder is used to pay down debts, such as those incurred on capital projects, Pate said.

The average market value of a residence in Richardson increased by nearly $16,000 to $319,558 since the last school year. After subtracting both state and local homestead exemptions, the average taxable value of a Richardson residence is $262,602, according to Pate. Increased property values are the reason most homeowners will see an uptick in payments, Pate said.

"If your property value grew more than the tax rate impact declined, you would still... pay more in property taxes even though the rate declined,” he said.


Richardson ISD is one of only three districts in North Texas that offers a local homestead exemption, which costs the district approximately $7 million annually, trustee and board treasurer Kim Caston said.

The increase in property tax revenue will help the district overcome hurdles associated with educating students during a pandemic, Caston said. This includes providing personal protective equipment for students and staff in addition to literacy intervention and other programs needed to help students who may have fallen behind. The revenue will also help the district expand its Pre-K For All initiative.

“That's what our public needs to understand is that we are moving ahead aggressively with academic initiatives,” Caston said. “[We are] using this money wisely to provide not only a safe learning environment for our teachers and for students, but also we are making sure that every child has their individual academic success.”
By Makenzie Plusnick
Makenzie graduated from Tarleton State University in 2019 with a degree in communications. While in school, she interned at the Weatherford Democrat and was editor of Texan News Service, a news outlet at Tarleton. She enjoys true crime podcasts, riding horses, and spending time with her dog.


MOST RECENT

Harvest Hall will have seven kitchens in total as well as a bar area. (Courtesy LDWW Group)
Grapevine dining hall to host 6 new restaurants and more DFW news

Read the latest business and community news from the Dallas-Fort Worth area.

Richardson had 26 new coronavirus cases from Sept. 18-24. (Community Impact staff)
Dallas County reports 2,588 new cases over weeklong period

There were 26 new coronavirus cases diagnosed in Richardson residents living in the Dallas County portion of the city between Sept. 18-Sept. 24.

bus
DART board considers more options for bus network redesign

This hybrid option was created after committee members expressed interest in a middle ground among ridership options.

Gov. Greg Abbott on July 27 issued an executive order extending the early voting period for the Nov. 3 election. (Screenshot of Sept. 17 press conference)
Lawsuit takes aim at start date for early voting as some Texas Republicans challenge Gov. Greg Abbott's order

A group of prominent Texas Republicans has embarked on a legal effort to undo the governor's executive order that extended the early voting period for the Nov. 3 election.

The Grind Burger Bar Tap Room offers craft burgers and beer. (Courtesy The Grind Burger Bar Tap Room)
Grind Burger Bar to open in McKinney and more DFW news

Read the latest business and community news from the Dallas-Fort Worth area.

The League of Women Voters Richardson is holding an in-person voter registration drive ahead of the Nov. 3 election. (Courtesy Adobe Stock)
League of Women Voters Richardson to hold in-person registration event at Coit and Belt Line roads

The event will be held Sept. 26 from 9 a.m.-1 p.m. at the Richardson Farmers Market.

Students are dropped off at Weatherford Elementary School on Sept. 9, the first day of in-person learning. (Liesbeth Powers/Community Impact Newspaper)
Plano ISD students, staff settle into new school year

Adjustments made to several key areas of district operations are outlined in this story from Community Impact Newspaper's September edition.

Wok & Grill closed Sept. 9. (Courtesy Adobe Stock)
Wok & Grill shutters in Richardson

The restaurant posted on Facebook that it had made the sudden decision to close its doors.

Richardson ISD is facing the possibility of reduced funding due to a significant enrollment decline. (Courtesy Adobe Stock)
Enrollment declines in Richardson ISD could lead to multi-million dollar deficit, officials report

RISD enrollment is down by more than 2,000 students so far this year.

Families in Richardson ISD can change their learning method from Sept. 29-Oct. 1. (Courtesy Adobe Stock)
Richardson ISD prepares for potential influx of students as families change learning methods

RISD officials said they are faced with the major hurdle of preparing for a possible influx of students who choose to return in October.

Richardson will soon have a team of officers dedicated to addressing mental health issues in the community. (Courtesy Richardson Police Department)
Richardson Police Department prepares to launch mental health crisis team

The department has seen a high volume of calls related to mental illness, Assistant Chief Gary Tittle said.

Not-for-profit agencies in Collin County can submit invoices for personal protective equipment to the county for reimbursement. (Courtesy Fotolia)
Collin County to reimburse housing and shelter not-for-profits for some coronavirus costs

Collin County plans to reimburse not-for-profit organizations that provide housing and shelter services for costs they have accrued assisting citizens during the coronavirus pandemic.