Early Independent School District trustees set the 2007-’08 tax rate for the district in a special called meeting Tuesday.
The total tax of $1.39 per $100 taxable value is an almost 4-cent increase over the 2006-’07 tax rate and is the maximum allowed without forcing a roll-back election.
The maintenance and operations tax rate is $1.04 per $100 of taxable value and the debt service tax rate is 35 cents.
EISD business manager James Marrs told the board a property owner in the district, whose property value was $100,000 would see his tax bill go up about $25, but the 4-cent increase would generate about $187,000 for the district.
And Marrs said, predictions from the Texas Education Agency were that the state would reduce the maximum allowable tax rate next year. At the budget process next year, he said, the board would likely have to make the decision to have a roll-back election, or, if the money generated from this year’s increase were put into the general fund, that money could prevent raising the taxes above the state’s maximum.
“What they’re saying is $1.17 is going to be the old $1.50,” Marrs said.
Time for a public hearing on the proposed tax rate had been scheduled for Tuesday’s called meeting, but no one came to discuss the budget and/or proposed tax rate.
Board members unanimously approved the 2007-’08 budget, after hearing an explanation from Marrs that increases had been made in the areas of personnel and equipment and capital expenses.
Revenue increases are expected to continue in average daily attendance.