After seeing a 6% increase in Spring ISD’s certified property values, the district’s financial office will recommend a tax rate decrease for the upcoming fiscal year that trustees will consider proposing Oct. 12.
“We are proposing to the board on Tuesday evening a decrease of 5% in our tax rate—a $0.07 decrease,” Chief Financial Officer Ann Westbrooks said at the board’s Oct. 8 workshop.
The district’s certified property values for the 2021-22 fiscal year total $16.4 billion, according to Westbrooks. The total tax rate the district will be recommending to trustees is $1.3128 per $100 valuation, while the current tax rate is $1.3843.
The district received its certified property values Aug. 20, and it is required to adopt a tax rate by the later option of Sept. 30 or 60 days after receiving its values, Westbrook said.
Trustees will consider the new tax rate at their regular monthly board meeting at 7 p.m. on Oct. 12. Should trustees vote to propose it, a public hearing will be held before the rate is adopted.