Tax rates for homeowners in KISD are expected to be 1 cent lower when final Harris County tax appraisal numbers are issued at the end of August.

At the district’s Aug. 17 work study meeting, KISD Chief Financial Officer Christopher J. Smith said appraisal numbers from Fort Bend and Waller counties were 2 percent higher than expected, and the same is anticipated from Harris County at the end of the month.

Higher appraisal values mean the district could lower the debt service fund portion of the district tax rate by 0.01 and still meet debt repayment schedules. Smith estimated the average homeowner would see a $40-$50 annual reduction in taxes under the new rate.

“It happened in large part because of the [lower] interest rate situation we’re in and the debt reduction the board authorized [earlier in the year],” Smith said.