Lewisville Independent School District taxpayers will save a little more than previously expected following the school board’s decision during its Sept. 13 meeting to amend its maintenance and operations tax rate.
The board unanimously approved a decrease in the M&O tax rate of $0.0002 to $0.9276 per $100 assessed valuation for the 2021-22 fiscal year budget, which was approved Aug. 30. According to the meeting notes, the new rate addresses what was believed to be a rounding error in a funding template provided by the Texas Education Agency.
The M&O tax rate funds the district’s daily operation of school buildings, offices and other district-owned facilities.
The district’s interest and sinking rate, which is used to make debt payment on capital projects, remained the same at the previously announced $.3809 per $100 assessed valuation.
