What you need to know
Clear Creek ISD officials will meet Aug. 21 to hold a public hearing and vote on the district’s new budget for fiscal year 2023-24, as well as its new tax rate. The board approved the date at its July 24 meeting.
For taxing bodies around the state, Aug. 21 will be the last day they can call an election for a measure, according to the Texas secretary of state's website.
A VATRE would be triggered if the district’s board votes for a tax rate that goes beyond the threshold set by the state.
With recent legislation passed by the state Legislature, property owners with a home valued at $350,000 can expect to see a savings of $917 on their tax bill, according to CCISD documents.
If the VATRE were to pass, it would lower those savings down to $847, documents show.
The backstory
CCISD is looking at a potential $17.4 million shortfall—up by $5 million after the district approved a new compensation plan July 24—and are looking at a VATRE to make up the difference.
In an effort to explain the district’s budgetary problems, which officials have pinned on inflation and the state’s lack of action toward public school funding, CCISD launched a campaign titled “Power of Pennies.”
The campaign includes several public meetings throughout July and August.
What else?
Along with the VATRE, the district’s new campaign is focused on providing information for a potential $600 million bond the district is considering for facility improvements.
The bond, like the VATRE, could be on the ballot in November.
CCISD officials are considering three options for the bond, two of which would defer some of the bond until a later election.
