The Carroll ISD board of trustees unanimously approved a new property tax rate for the 2026-27 fiscal year of $0.9269 per $100 valuation at its Aug. 17 meeting, lowering the rate for the 12th consecutive time since the 2015-2016 fiscal year.
The details
Tax rates are made up of two components, maintenance and operations, M&O, and interest and sinking, I&S.
M&O rates fund the daily operations costs like salaries, supplies and utilities. The M&O tax rate is staying the same at $0.6853 per $100 valuation.
I&S, or debt service fund rates, are used to repay debt from bonds. The I&S tax rate is dropping from $0.2441 per $100 valuation to $0.2416 per $100 valuation.
For the third year in a row the new tax rate is also below the no-new-revenue tax rate, which is the rate that would produce the same amount of revenue from taxes as the previous year when accounting for any value changes of the same properties, according to district documents.
What it means
The current tax rate is the lowest in the district’s history, according to district documents.
The average taxable value of residences has also decreased from $997,452 to $995,831. While taxable values can vary between properties, a homeowner with the average taxable value would save around $15 on property taxes, according to CISD.
A closer look
CISD currently has more than $250 million in outstanding debt, according to the Texas Bond Review Board Data Center.
The district reports the board has reduced the debt by nearly $300 million since 2020 and recently approved refunding bonds expected to save the district $4 million in interest payments.
Quote of note
Board president Cameron Bryan thanked Chase Park, deputy superintendent of business & finance, and superintendent Jeremy Glenn for making it possible for the district to implement the new tax rate.
“I commend you, Mr. Park, and your staff, Dr. Glenn, and your entire team for what really is an unprecedented third year in a row that we are passing a tax rate for our taxpayers in our community that's below the no-new-revenue rate,” Bryan said. “And it's the sixth year in a row that we've reduced the property tax rate for our residents in Southlake, which is also really unheard of for a 6A district in Texas.”
