What you need to know
Facing a $12.7 million shortfall in its fiscal year 2023-24 budget, PISD officials called for a VATRE to help shore up the gap.
On Nov. 7, the VATRE was approved with 5,567 votes in favor, or 56.79% of the vote, and 4,236 votes against, or 43.21% of the vote, according to results from both Brazoria and Harris counties.
The VATRE will give the district an additional $11.2 million in revenue and bring the district’s new tax rate to $1.1373 per $100 valuation, according to district documents. That total is up $0.09 from the $1.0473 it would have been if the VATRE had failed.
Despite the increase in what the tax rate would have been, it will still remain lower than previous years due to the state of Texas compressing tax rates with a recent bill. It will result in more than $500 in savings for the average property owner compared to 2022, according to district documents.
What else?
Following the results, the district’s board at its Nov. 14 meeting approved a second pay raise this year for teachers, which will come to teachers in the form of a one-time check in December.
Starting in the 2024-25 school year, that pay will be reflected in teachers’ base salaries, resulting in a 4% increase in pay compared to 2022-23.
