During its Aug. 8 meeting, FISD’s board of trustees unanimously approved a proposed tax rate of $1.2094 per $100 valuation, a decrease of $0.03 from FY 2021-22’s rate.
It also represents a decrease from an earlier FY 2022-23 rate of $1.2315 per $100 valuation included on the preliminary budget reviewed by the board July 18. Chief Financial Officer Amber Petree said at the meeting that the drop is due to a rise in property values.
This proposed rate joins the ongoing downward trend of FISD tax rates, with the proposed FY 2022-23 rate representing a nearly 12% decrease from five years prior.
Under the newest proposed rate, the homeowner of a house valued at the city average of $435,000 would owe $5,261 in taxes to the district.
With the proposed tax rate approved, the district will now publish a notice of public meeting to discuss the budget and proposed tax rate. The board agreed July 18 to hold this required public meeting Aug. 22 at 7 p.m. during its workshop session.
