What was the required tax-rate reduction the Texas Legislature passed?
A state-mandated school property tax reduction for homeowners is being factored into all Texas school district budgets this year. Last spring, lawmakers voted to reduce the maintenance and operations rate of local school property taxes from a cap of $1.50 per $100 of assessed value to a cap of $1.33 in 2007. Taxes will be reduced 33 cents more, to $1.00, in 2008. But the debt portion of the rate can be as high as 50 cents. Why are some other school districts seeing a larger tax-rate decrease than Birdville? Birdville’s decision to stop using money from reserve funds to pay off debt and the repayment schedule for existing debt are the reasons. But the district’s tax rate is still lower than many surrounding school districts. Does the mandated state tax rate reduction guarantee that tax bills in the Birdville district will go down? Not necessarily. In Birdville, the total 5.2 cent tax rate reduction is equal to about a 3 percent reduction when compared with last year’s rate. But if a hom
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- What was the required tax-rate reduction the Texas Legislature passed?
