Last year’s rate was $1.38, the Maintenance and Operations (M&O) rate set at $1.09 while the Interest and Sinking (I&S) was $0.29, together creating a $1.38 total tax rate.

“We had a workshop and made the motion to make the tax rate be set at an aggregate rate of $1.39, which is below our rollback rate,” said Board President Cecil Bell, Jr.

This year’s M&O rate was set at $1.04 while the I&S rate will be $1.35.

“If you look at our payment schedules for facilities, this year and next year are our toughest debt payment years,” said Bell. “They peak and start slowly going down. The other facet that drove that need to change that is the fact that the appraised certified tax roll came in $122 million lower than the appraisal district.”

Bell added that the board has reduced the district’s M&O budget by approximately $2.5 million.

“It’s very difficult in a budget cycle. The state’s still saying there will be no new money for kids and it would appear that trend will continue in the immediate future,” said Bell. “Our goal is to be good stewards of the tax payers’ trust.”

Amendments to the district’s forthcoming budget were also passed during the Aug. 4 meeting, which Bell called “housekeeping items.” The board is still working on its groundwater reduction plan and Bell said they “feel pretty confident our plan will be able to have little or no cost-effect on the district.”

The board will meet Aug. 23 to officially adopt the tax rate.

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