The Comal ISD board of trustees approved the district's tax rate for the 2024-25 fiscal year Aug. 22, setting it at $1.0869 per $100 valuation, with the maintenance and operations tax rate at $0.7369, and the debt service tax rate at $0.35.

The breakdown

The total tax rate of $1.0869 per $100, which was proposed in June, is divided into the maintenance and operations rate and the interest and sinking tax rate. That total rate is $0.0023—or about 0.21%—lower than the $1.0892 rate for fiscal year 2023-24.

FY 2024-25

• M&O: $0.7369
• I&S: $0.35
• Total tax rate: $1.0869

FY 2023-24

• M&O: $0.7392
• I&S: $0.35
• Total tax rate: $1.0892

The district's tax rate is determined based on certified property values submitted to the Texas Education Agency and complies with the limits set by Senate Bill 2, said Glenn Graham, chief financial officer for Comal ISD.

Also of note

Despite the decrease, the district is focusing on addressing the growing needs of its expanding student population, projected to exceed 30,000 students this year, said president of the board Russ Garner.

The board also discussed the district’s financial strategy in maintaining a low interest and sinking debt rate, and the impact of the increased homestead exemption on the district’s bond capacity.

"We did lose about $10 million in capacity with our tax rate because of that increased homestead exemption, but the state did hold us harmless for anything that was already authorized," Graham said. “Anything in the 2023 bond that we sell, they'll make up that difference, but anything after that will not be held harmless."