VISD adopts lowered tax rate, approves budget for 2014-15
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Homeowners in Victoria may see a decrease in their taxes depending on how much their property values changed this year.
Victoria school district board trustees voted to decrease the tax rate for a third consecutive year at a special meeting Thursday.
Property values increased by 7.8 percent in Victoria County, said Frances Koch, VISD budget and finance director.
"In Victoria, we're very fortunate that our property values have increased," said Robert Jaklich, VISD superintendent. "We've tried to do our part by decreasing our tax rate for the last three years."
Last year's tax rate was $1.28 per $100 assessed value, and the approved new rate is $1.27 per $100 per assessed value.
The owner of a $100,000 home will pay about $1,274 in taxes, about $15.20 less than last year.
In other business, trustees also approved the 2014-15 operating budget.
The approved budget shows $111,189,555 in revenue, an increase of $3.7 million.
It costs Victoria ISD about $7.5 million for a month's worth of operating expenses, Koch said.
In the coming school year, the district will shoulder additional expenses because of an increase in teacher retirement contributions and increases in the appraisal budget and the tax roll parcel fee requirements.
According to the approved budget, Victoria school district saw a decrease in state funding of about $3 million from last year.
While this year's budget is on target, Tami Keeling, VISD school board president, expressed some concern about the coming changes to TRS, also known as the state's Teacher Retirement System.
"TRS, like fuel and materials allotment, is yet another thing the state is passing on to districts locally," Keeling said. "I know the solution on this is a legislative decision; that's why we need to pay attention to TRS this upcoming session."