In an upcoming issue of the Monitor, the Notice of Public Meeting to Discuss Budget and Proposed Tax Rate for EISD will be published. By law, school districts are required to provide certain information in the notice. Usually, districts follow the example given in the Comptrollers Truth and Taxation Guide. In the notice you will find the following information:
- The date, time, and location of the public hearing on the budget and tax rate. EISD’s public hearing will be Tuesday, August 16, at 7:00 PM in the High School library.
- The proposed tax rate. The proposed tax rate for EISD is $1.04 for maintenance and operations and $0.2363 for interest and sinking.
- Comparison of the proposed budget with last year’s budget. For EISD, this portion shows a 2.16% decrease in maintenance and operations, a 0.1% increase in debt services, and a 1.99% decrease in total expenditures.
- A section that details the total appraised value and total taxable value in the current tax year and in the preceding tax year.
- A section that shows the outstanding principal amount on voter approved bonds. For EISD, this amount is $13,035,000.
- A section that shows a comparison of the proposed tax rate and last year’s tax rate. EISD’s proposed tax rate is the same as last year’s tax rate. This section also compares the local revenue per student and the state revenue per student. Last year, EISD earned about $4,400 per student from local revenue and $3,680 per student in state revenue. For the 11-12 school year, we are estimating that we will again earn about $4,400 per student in local revenue, while the state revenue decreases to about $3,260 per student.
- The section that follows compares the proposed levy with last year’s levy on an average residence. This section must be viewed with the awareness that the average market value and the average taxable value of residences within EISD can vary greatly from year to year. For example, last year’s average market value of residences was $111,061. This year’s average market value is $91,252. The market values are supplied to EISD by the Henderson County Appraisal District.
- The next section contains the rollback rate for the district. The rollback rate for EISD is $1.2812.
- The final section of the notice contains information about the fund balances for the district. EISD’s has approximately $4,036,000 in M & O fund balance and $462,000 in I & S fund balance.
If you have any questions about any part of the notice, please do not hesitate to contact me.