The District’s Operating and Interest and Sinking Funds are supported by the levying of an ad valorem tax on property in accordance with Texas Education Code Section 45.002 and Board Policy CCG (Legal). The District published the “Notice of Public Meeting to Discuss the Proposed Tax Rate” on August 9, 2019.
The proposed Maintenance and Operations (M&O) rate is $1.06835, and the proposed Interest and Sinking (I&S) Fund rate is $0.20 for fiscal year 2019-20. The $.10165 decrease in the M&O rate is in accordance with the new compressed tax rates in HB 3. The I&S rate increase is due to higher debt payments from the Series 2019 debt issuance The total tax rate is proposed to be $1.26835 per $100 of assessed value. This is a reduction in the total tax rate of $.04165.
The attached Resolution is required to be adopted to formalize the setting of the rate.