Proposed Tax Rate

by Coy Holcombe.  

Last night, in a called board meeting, the EISD Board of Trustees voted on a proposed tax rate. The proposed rate for the 09-10 school year is exactly the same as the tax rate for the 08-09 school year: $1.04 M & O rate and $0.218 I & S rate. The proposed tax rate is not yet the official tax rate. In order for the district to publish the required documents, the Board must adopt a proposed tax rate. The district then publishes a Notice of Public Meeting to Discuss Budget and Proposed Tax Rate. The proposed tax rate is used in this publication. The Board will then hold a public hearing in which the budget and proposed tax rate are discussed. It is anticipated that this public hearing will be held before the August regular board meeting on August 18. There is no action taken during the public hearing. Action on the budget and tax rate must take place in a separate board meeting. The public hearing and board meeting may occur on the same day, but must be separated by an adjournment of the public hearing and a call to order of the board meeting.

A school district’s tax rate is made up of two components: the M & O rate and the I & S rate. The M & O rate is used to fund the daily operation of the school district. The I & S rate is used to pay for voter approved bonds. Not every school district will have an I & S rate. Combined, the M & O and I & S rate make up the total tax rate for the school district. As we progress through August, we will talk more about the overall procedure of adopting a budget and a tax rate. If at any time you have any questions, please do not hesitate to contact me at cholcombe@eustaceisd.net.

 

 

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