By BRAD KEITH
STEPHENVILLE (August 23, 2015) — Stephenville ISD will officially adopt its 2015-16 budget and tax rate in a called meeting at noon Monday in the district administration building.
SISD trustees have already passed the proposed budget and tax rate, and in accordance with law held a public hearing during their regular August meeting. Only a couple residents attended the meeting and no one spoke.
Trustees are set to adopt a rate of $1.17 per $100 property valuation for maintenance and operations, plus $0.1949 per $100 valuation for payment of principal and interest on debts. If approved, the total taxes charged to property owners by the district will be set at $1.3649 per $100 valuation.
But that’s just the beginning.
Once the $29,000,000 budget and the tax rate are approved, trustees will then vote to call a tax ratification election, giving voters the opportunity to authorize the district to move the $0.13 increase from debt funding rather than raise taxes. If voters approve the tax swap, taxes will remain the same – $1.2349 per $100 valuation – as they were in 2014-15.
Because the state of Texas matches more in operations funding than in debt funding, an approved tax swap would also mean approximately $360,000 in additional state funds. Superintendent Matt Underwood says that money is earmarked for student technology resources.
For a breakdown of the budget and SISD, look back at this prior story HERE.