What is the finance plan referred to as recapture or “Robin Hood” and how does it affect GCISD?
“Robin Hood” is the nickname given to the current formula that affects “property wealthy” school districts in Texas and is used to help fund public education in the state of Texas. This system was coined “Robin Hood” because this method of funding takes property tax revenues from property wealthy districts and redistributes those funds to property poor districts. GCISD is considered a property wealthy district and, therefore, is required to share approximately 25 percent of its tax revenues. The “Robin Hood” payments are sent to Austin to be redistributed to property poor districts. The amount of tax revenues to be shared in 2010-2011 is approximately $26.4 million.
