What you need to know
District staff said the tax rate for fiscal year 2024-25 will remain the same as the rate from the previous fiscal year at $1.0346 per $100 valuation.
While the tax rate will stay the same as the previous year, residents may see an increase in taxes paid due to rising home appraisal values.
A home valued at $300,000 that does not have any homestead exemption would pay around $3,103 annually to the school district.
The tax rate will support the budget, which was approved in June with a nearly $24 million shortfall after the use of disaster pennies to offset expenditures.
These pennies offset part of the interest and sinking rate, which the Texas Education Agency defines as the rate which provides funds for payments on the debt that finances a district's facilities.
What they’re saying
Trustee Monica Ryan voted against the rate, with one of her concerns being the use of disaster pennies causing delays in debt repayment since the pennies reduce the I&S rate.
“I don’t see any other district doing this in the state of Texas, so it has me real uncomfortable that other school districts who could really use some money are choosing not to do this,” Ryan said.
Superintendent Milton “Rob” Fields III explained that the district will still be able to make the minimum payments required.
“We’re on pace to finish out the way that we started,” Fields said.
Trustee Jose Macias said he believes the district has taken creative ways in reducing the budget shortfalls, and the board will continue to look into budget savings throughout the school year.
“I will be very sensitive about any cuts or any argument about we are spending too much,” Macias said. “If students are succeeding and we are offering services, then we are doing our job.”
The full tax rate discussion can be viewed here.
