The public hearings will be held during the June 5 board meeting.
What you need to know
The proposed operating budget for the 2025-26 school year is expected to generate $401 million in revenue against $439 million in expenditures, leaving a $28 million shortfall for the year. For 2024-25, the district anticipated a $27 million shortfall but will end with a $10 million deficit.
The district will also pay $6.6 million in recapture to the state.
Recapture redistributes property tax dollars from property-wealthy districts to those the state deems property poor.
The 2025-26 budget was created based on a project of 35,345 students.
What else
The proposed tax rate for the 2025-26 school year is $1.0905 per $100 of assessed value. The current tax rate is $1.10520 per $100 of assessed value.
While the tax rate is decreasing, the average taxable value of a home in Richardson is projected to increase from $289,070 to $330,771, according to district documents.
