Katy ISD Chief Financial Officer Christopher Smith presented an updated resolution for two components of the district's tax rates to the board of trustees during the working session Sept. 18.

The breakdown

The new combined tax rate for fiscal year 2023-24 is $1.1194 per $100 valuation to be assessed and collected as follows:
  • $0.7294 for maintenance and operations purposes
  • $0.39 for payment of principal and interest on debts
The total tax relief amount including Texas Education Agency-mandated tax rate compression represents an $0.1854 overall decrease for taxpayers in the district.

What’s next

That relief and the expected passage this November of Senate Bill 2, which features a $100,000 homestead exemption, will bring a $562 reduction for the average resident’s tax payment based on average property valuations within the district.

The board will vote on the resolution at the regular meeting on Sept. 25, and SB 2 will be decided on Nov. 7.

Quote of note

While school districts around the state are operating with deficit budgets, KISD officials said the Legislature put forth bills to reduce tax rates rather than increase funding.

“I appreciate the state of Texas for pushing that along ... because that’s great tax relief across Texas, ... but it’s not going to our classrooms,” Smith said.