The big picture
Trustees unanimously approved the FY 2024-25 total tax rate of $1.0629 per $100 valuation with board Assistant Secretary Michael Pratt absent. The rate is 0.22% less than the district’s FY 2023-24 rate of $1.0652 per $100 valuation.
“We can't go any lower,” board Vice President Justin Unser said. “If we do, we'll have less money from the state. ... I feel like the tax rate is being set for us because there [are] the formulas that are provided that we have to use.”
Property values have increased for homeowners living in the district, so the amount of taxes collected could be higher, Unser said.
“Even if the appraisals go up, our rate went down. ... We don't raise the appraisal rate,” trustee Tina Salem said.
Diving in deeper
According to Sept. 10 meeting documents, the FY 2024-25 total tax rate is made up of:
- A maintenance and operations tax rate—which pays for TISD’s general fund budget—of $0.6669 per $100 valuation
- An interest and sinking tax rate—which funds debt service from bonds—of $0.3960 per $100 valuation
On June 18, TISD trustees passed a budget with a shortfall of about $9.1 million. District leaders said they hope to see more funding allocated to public school districts in the 89th Texas legislative session, which begins Jan. 14.
Back then
At the end of April, TISD leaders received their first preliminary estimates for the district’s annual tax rates from the Harris Central Appraisal District, Boles said May 13. Boles said the district saw a 6.7% increase in taxable value, but the preliminary tax rate estimates given represented a minimal change compared to the FY 2023-24 tax rates.
