Along with that, trustees also approved a tax rate of $1.03 per $100 valuation of a home for FY 2025-26. This tax rate is $0.01, or nearly 1%, lower than last year’s rate of $1.04 per $100 valuation of a home.
Budget explained
FISD will have about $67.5 million each in expenses and revenues, according to a budget presentation by the district.
Compared to FY 2024-25—in which the district also adopted a balanced budget with $62.5 million in expenses and revenues—this is about a $5 million increase, the presentation shows.
The district’s $1.03 per $100 valuation tax rate includes $0.7869 for maintenance and operations, or M&O—which funds daily operations and is unchanged from FY 2024-25—and $0.2431 for interest & sinking, or I&S—which pays bond debt and is down $0.01 compared to FY 2024-25.
However, that decrease doesn’t account for how home values might have changed year over year. 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 has decreased 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 in November.
This increase translates to an estimated $48.75 per month for homeowners with a taxable value of $450,000, according to district documents.
Trustees called the bond election at their Aug. 11 meeting, Community Impact previously reported.
Early voting for the Nov. 4 election will run from Oct. 20 to Oct. 31, according to the Texas Secretary of State’s Office.
More information on the bond proposal can be found on the district’s website.
