Homeowners in Klein ISD may see a nearly 5% reduction in their district tax rate for the 2019-20 school year compared to last academic year following passage of House Bill 3, according to KISD officials.
HB 3, which was signed by Gov. Greg Abbott on June 11, requires school districts to compress their tax rates and boost teachers’ pay as part of its school finance reform package. For KISD, the total state funding is expected to increase by about $21 million in 2019‐20, according to the district.
The district’s board of trustees approved a historic 5.5% salary increase for employees in its 2019-20 budget on July 2 and proposed a 2019 budget—including a new tax rate of $1.36 per $100 valuation—at the Aug. 12 meeting.
“What we’re really excited about is that we’ve been able to lower the tax rate in Klein ISD and still meet the needs of all of our students and all of our Klein community,” Superintendent Jenny McGown said.
The proposed tax rate allocates $0.97 per $100 valuation for maintenance and operations and $0.39 per $100 valuation for the interest and sinking fund, which is used to pay for bonded indebtedness on construction, equipment or both.
The 2018 tax rate was $1.43, with $1.06 allocated for maintenance and operations and $0.37 for the interest and sinking fund.
Although KISD officials have discussed the possibility of holding another tax ratification election—in which voters decide on a proposed tax rate increase—following its failed TRE in June 2018, district officials confirmed they would not hold another TRE during the 2019-20 school year, Community Impact Newspaper previously reported.
The public is invited to attend a meeting to discuss the 2019-20 budget and the 2019 proposed tax rate for Aug. 26 at 5:15 p.m. at the KISD Board Room at 7200 Spring Cypress Road, Spring.