I recently received the 2011 preliminary property tax report from the Texas Comptroller’s office. In the preliminary report, EISD had a total property value of $502,191,964 in Henderson County and total property value of $2,853,017 in Van Zandt County. These numbers represent the “T2” values. The T2 values are school district taxable values for M & O purposes after the loss ot the additional $10,000 homestead exemption and the tax ceiling reduction. The total preliminary T2 property value for EISD for 2011 is $505,044,981.
For the first time in many years (if ever), the property values in EISD have decreased from the previous year. In 2010, we had a total assigned value of $506,595,832. The overall property value showed a decrease of about $1.5 million. All of the decrease came in Henderson County. In 2010, Henderson County had a T2 value of $503,803,698. Compared with the 2011 values, Henderson County had an overall loss in property values of about $1.6 million. Van Zandt County values actually increased slightly from 2010 to 2011. In 2010, Van Zandt County had a T2 value of $2,792,134. Comparing this with the preliminary 2011 value shows an increase of about $61,000. Next week, we will look and see how the property values will affect the funding for the 2012-2013 school year.
I want to remind everyone that the Eustace FFA Ag Boosters is holding its annual chili cook off and auction this Saturday. The auction starts at 6:00 PM and will be held in the Primary cafeteria.
I hope everyone has a great weekend!