As of its last meeting Aug. 11, the district is projecting a balanced budget with a tax rate of $1.03 per $100 valuation of a home.
What you need to know
As of its Aug. 11 meeting, FISD is projecting about $67.4 million in revenue and $66.7 million in expenses, along with $770,375 in debt service for maintenance tax notes, leaving the district with a balanced budget, according to district documents.
The district is also looking at a projected tax rate of $1.03 per $100 valuation of a home—a $0.01 decrease from last year’s tax rate, according to district documents.
However, that decrease doesn’t account for how home values might have changed from this year to the last. This rate is with an average residential market value of over $590,000. Last year’s average market value was nearly $577,000, according to district documents.
Also of note
While the tax rate is projected to decrease for FY 2025-26, it could potentially increase by $0.13 per $100 valuation of a home for FY 2026-27 if voters approve a $165 million bond election in November.
Trustees called the bond election at their Aug. 11 meeting, Community Impact previously reported.
This increase translates to an estimated $48.75 per month for homeowners with a taxable value of $450,000, according to district documents.
Stay tuned
The board will meet to consider adopting the budget and tax rate at 6:30 p.m. Aug. 25 at the district’s boardroom, located at 402 Laurel Drive, Friendswood.
