North East ISD trustees voted Sept. 11 to adopt a property tax rate of $1.01 per $100 valuation for the 2023-24 academic year, a decrease from $1.18 in the previous school year.
The background
District officials said they are lowering the maintenance and operation part of the total tax rate from $0.88 per $100 valuation in 2022-23 to $0.71. The district’s debt service portion of the tax rate remains $0.30.
The big picture
The new tax rate will support the 2023-24 operating budget, which projects $557.4 million in revenue, $615.7 million in expenses and a $58.3 million deficit.
The district is spending $381.4 million on classroom instruction and $5.9 million on security and monitoring services. The new budget also features the largest salary increase for all district staff in more than 20 years.
The new budget is larger than that of the 2022-23 school year, when NEISD projected $542.6 million in general fund revenue, $560.5 million in expenditures, $340 million for instruction and $5.32 million for security and monitoring services.
