The Leander ISD school board will hold a special meeting Aug. 28 to approve the 2014–15 budget and property tax rate.

The $258.5 million general operating budget will go toward educating the district's 36,320 students at an approximate cost of $7,118 per pupil. According to district calculations, student enrollment compared with 2013–14 increased almost 4 percent, while the estimated cost budgeted per pupil increased about 8 percent. The budget accounts for 1,382 more students compared with 2013–14.

At a meeting Aug. 21, the school board discussed proposed property tax rates ranging from $1.50278 to $1.54 per $100 of valuation. LISD's 2013–14 tax rate is $1.51187 per $100 of valuation, of which $1.04 goes toward maintenance and operations while the remaining $0.47187 funds debt repayment.

Trustee Will Streit and Board Vice President Aaron Johnson said they would like to adopt the maximum tax rate of $1.54 per $100 of valuation in order to pay down more of the district's debt. Board President Pam Waggoner said most homeowners experienced significant property value increases in 2014 and therefore LISD should use savings to pay off some debt while keeping the property tax rate lower.

According to the Williamson and Travis counties central appraisal districts, LISD's total taxable property value in 2014 increased 14.92 percent compared with 2013.

Existing homeowners with an average LISD home valued at $246,742 would see an annual property tax rate increase of $316.70 under the $1.502789 per $100 of valuation tax rate, according to LISD. The $1.54 per $100 of valuation tax rate and would carry a $408.54 annual increase for the same home.

The meeting is at the LISD Support Services building, 1900 Cougar Country Drive, Cedar Park, begins at 7 p.m. and will allow for public comment.