Temple Independent School District trustees will vote to approve a proposed tax rate of about $1.28 per $100, during Monday night’s meeting.
Temple ISD had a tax rate of about $1.35 per $100 for the 2019-20 academic school year, while the 2018-19 tax rate was set around $1.40.
“We’re glad that we’re able to bring a rate lower than what we proposed back in June when we adopted the budget (of $115.9 million),” Kent Boyd, Temple ISD’s assistant superintendent of finance and operations, said. “We had posted a maximum rate of $1.34, but in reality, it’s going to be about $1.28.”
Although Temple ISD’s tax rate has continued to decrease, it does not mean residents will see lower chargers when reviewing their tax bills. But Superintendent Bobby Ott said his district was diligent and mindful when developing the proposed tax rate.
“We always want to be sensitive to the taxpayers when adopting a tax rate,” Ott said. “We’re actually lowering it by about 6 cents, which is really good — especially considering the fact we had to raise part of the tax rate when we sold bonds.”
Ott said Temple ISD’s last sale from the 2015 bonds came this spring.
“That (sale) was about $30 million … and anytime you sell bonds you have to raise part of the tax rate,” he said.
Under the proposed tax rate of $1.28 per $100, Ott said Temple ISD should generate about $55.5 million in property tax revenue during the 2020-21 school year if there is 100 percent collection from residents — nearly $3 million more than a year prior.
Ott said the average home in Temple ISD is valued at $152,444 — a near 11.5 percent increase from last year’s average value of $136,777. That homeowner would be responsible for about $1,951 in taxes.
“If the values of a home are higher — even though the school district set a lower rate — (taxpayers) are still paying more,” Ott said. “They may feel like the schools are making out on all this money but that’s not what’s happening.”
Ott also noted how Temple ISD’s aid from the state of Texas is expected to generate about $50 million in funding. That figure was set at $48.2 million last year.
The school board’s vote will come during Monday’s 6 p.m. meeting at the TISD Administration Building, 401 W. Ave. A.