Pearland ISD's board of trustees approved a proposed tax rate of $1.3152 per $100 valuation for fiscal year 2021-22 at its Aug. 16 meeting, triggering a Voter-Approval Tax Rate Election, or VATRE. The election on Nov. 2 will determine whether the district receives an additional $7.4 million in state and local funds.
The proposed tax rate is broken down into two components: $0.9196 designated for maintenance and operations and $0.3956 for the interest and sinking fund, or debt.
“If the VATRE doesn’t pass ... it is going to reduce our maintenance and operations,” PISD Board Vice President Jeff Barry said.
Maintenance and operations accounts for salaries, capital improvements and even allowances to campuses, Barry said. The second component—the interest and sinking fund—is used to pay for debt on construction, equipment or both, according to agenda documents.
