The total tax rate includes a maintenance and operations rate of $0.9429 per $100 valuation and a debt services rate of $0.35 per $100 valuation.
Because the district will bring in more revenue through taxes this year than it did in the previous year, the new tax rate effectively represents a 3.1% increase over last year’s rate.
The average taxable value for houses within the district rose by roughly $19,800 year over year, meaning the district will take in an average of $151 more in taxes per household. Due to varying property values, however, district officials said some homeowners might not see an increase in taxes owed.
HISD Chief Financial Officer Billy Beattie said the additional revenue taken in by the adopted tax rate will help the district address any changes seen throughout the year, including growing inflation rates.
"The adopted rate that we're proposing does take into consideration these changes to serve our kids," Beattie said. "We're growing. We have new students ... new needs."
In June, trustees approved a roughly $589.6 million budget for the 2022-23 school year that includes 4% on-average pay raises for all staff members and $1,000 stipends for full-time auxiliary, child nutrition, custodial and transportation staff.
Also over the summer, trustees approved an amendment to the district’s 2022-23 compensation plan that raised starting teacher salaries from to $62,100, up from $58,000 in the 2021-22 school year.
