VISD board to discuss budget Thursday
Aug. 14, 2013 at 3:14 a.m.
At the next Victoria school district board meeting, trustees will discuss the proposed budget and tax rate for the new year.
The owner of a $100,000 home could save about $20 with the proposed lower tax rate.
The school board is expected to hold a budget workshop when it meets at 6 p.m. Thursday.
The lower tax rate and a proposed higher budget are a result of the higher total taxable value of about $5.6 billion.
"Some of the increase in local value is offset by a decrease in state funding," said district spokeswoman Diane Boyett. "However, this year, due to increased enrollment and funding formula changes that came from the last legislative session, the district anticipates an overall increase in state funding of $2.8 million."
The current tax rate is set at $1.30 cents per $100 assessed value.
The proposed rate is $1.28 per $100 per assessed value.
"We only want to raise the amount of money that is needed," Boyett said. "In this situation, because of what is due on our bonded debt, that tax rate can go down by almost two cents and still generate enough funding to pay those bonds."
The total revenue from the proposed budget is expected to increase to about $6.8 million from last year.
Those increases in the proposed budget would go to payroll and instructional supplies and materials.
"There are a lot of districts having tax elections across the state right now," Boyett said. "We've been very fortunate because our budgets are so conservative."