Homeowners in Klein ISD will see nearly a 5% reduction in their school district tax rate for the 2019-2020 fiscal year compared to last fiscal year—dropping from $1.43 per $100 valuation to $1.36 per $100 valuation, according to KISD officials.

The board of trustees approved its 2019-2020 budget at a special meeting Aug. 26.

The new 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. By comparison, the 2018-19 rate allocated $1.06 for maintenance and operations and $0.37 for the interest and sinking fund.

The district’s board of trustees also approved a historic 5.5% salary increase for employees in its 2019-20 budget on July 2.

Both actions were partially a result of House Bill 3, which was signed by Gov. Greg Abbott on June 11. The bill requires public school districts to compress their tax rates and boost teachers’ pay as part of its school finance reform package.