The New Braunfels ISD board of trustees approved the district's tax rate for the 2024-25 school year during a special meeting Aug. 21, setting it at $1.0377 per $100 of taxable value.

This represents a slight decrease from the previous year’s rate of $1.0419, according to an Aug. 26 news release from NBISD.

The breakdown

The new total tax rate of $1.0377 per $100 valuation includes a maintenance and operations rate of $0.6969 and an interest and sinking rate of $0.3408. This total rate is $0.0042—or approximately 40%—lower than the $1.0419 rate for the 2023-24 school year.

FY 2024-25

• M&O: $0.6969
• I&S: $0.3408
• Total tax rate: $1.0377

FY 2023-24

• M&O: $0.7011
• I&S: $0.3408
• Total tax rate: $1.0419

The reduction in the M&O rate, which was initially projected to be $0.7011, became possible after the district received certified property values from the Comal and Guadalupe Appraisal Districts, according to the release.

Also of note

The board's decision to adopt the lower tax rate aims to provide some financial relief to taxpayers while maintaining the district’s educational standards and programs, said NBISD Chief Financial Officer Paul McLarty in the release.

“We had an opportunity to take advantage of a lower tax rate to provide some relief to our constituents, so we felt it was necessary to do just that,” McLarty said. “NBISD trustees and leadership have been working together to ensure tax relief while continuing to provide a top-notch education for every student...every day.”

Despite the reduction, the district’s $104.8 million balanced budget for the upcoming school year remains intact, according to the release, ensuring that educational quality and programming will not be compromised.