Northwest ISD reduces 2023-24 tax rate by 18 cents

Northwest ISD board of trustees approved the district’s recommendation to decrease the total tax rate to $1.0902 per $100 of taxable property value during a meeting Aug. 28. According to a district news release, this rate is reduced by a little more than 18 cents from the fiscal year 2022-23 tax rate of $1.2746.

The backstory

According to a district website, public school taxes involve two figures, which divide the school district budget into two “buckets.” The first bucket is the maintenance and operations budget, which funds daily costs and recurring or consumable expenditures, such as:

• Teacher and staff salaries
• Supplies
• Food
• Gas and utilities

The second bucket is the interest and sinking budget, also known as debt service, and that is used to repay debt for longer-term capital improvements approved by voters through bond elections.

The details

The new tax rate is composed of a maintenance and operations tax rate of $0.6692 and an interest and sinking tax rate of $0.4210, the news release states.

Northwest ISD is the fastest growing school district in North Texas, according to the district website. According to the news release, it has more new homes both built and sold than any other district in the region. On average, the district increased its total enrollment by at least 1,400 students per year since 2020.