The proposed tax rate the Boerne ISD trustees will consider and vote on in a couple of days is unchanged from when the trustees set the 2022-23 budget in June.
Chief Financial Officer Wes Scott confirmed to The Star that the proposed rate – which will be the subject of a public hearing during the board meeting at 6:30 p.m. on Tuesday, Sept. 20 – is $1.1786 for every $100 of assessed valuation. The projected tax rate is broken down into an 85.46-cent mainte-nance and operations levy and a 32.4-cent debt service levy.
The adopted 2021-22 rate was $1.2046. The difference is 2.6 cents.
“(Superintendent Tom) Price, our district executive team and our board of trustees have worked extremely hard to once again lower the district’s tax rate for the fifth year in a row,” BISD Director of Communications Bryan Benway told The Star. “We have always been very fiscally responsible with taxpayer money, and the lowering of the tax rate continues that trend.
“We are grateful for the tremen-dous support from the community and look forward to officially low-ering the tax rate once again on September 20.”
In June, trustees adopted a $99.52 million maintenance and operations budget that includes across-the-board pay raises, as well as money for other necessities and a projected payment as high as $7.5 million in recap-ture, or Robin Hood, funds.
If adopted, it will be the fourth consecutive year BISD has lowered its tax rate.
“The board is pleased that the district will reduce its tax rate for the fourth year in a row,” board of trustees President Rich Sena told The Star in June. “Since 2019, the rate has declined from $1.354 to $1.178 and is lower than all neighboring school districts and significantly less than other fast-growth districts in the region.”
Last year, the tax rate was split into 88.26 (M&O) and 31.4 (debt service) cents, respectively. The 1-cent debt service rate is the first time in several years it has been increased.
As late as 2018-19, BISD’s overall tax rate was $1.354. It dropped to $1.284 the following year and to $1.2519 two years ago.
Figures provided by BISD in June showed estimated total appraised value and total taxable value within BISD’s borders. The total appraised value of all property at the time was $14.31 billion with $494 million of that new property. Total taxable value of all property is listed at $11.04 billion with tax-able value of new property equaling $444 million.
All of those values are significantly higher than the preceding tax year.
The information states the average market value of res-idences this year is $538,597 compared to $446,954 in the preceding year. The average taxable value of residences is $427,879 this year compared to $412,751 the preceding year.
Scott said the proposed M&O levy is the lowest allowable by law. It again is lower this year because of the increased property values within the district.
The district uses five golden pennies in determining its M&O rate. The 5 cents is within the state’s compressed tax rate – the 85.46 cents.
Golden pennies are the first 6 cents of tax effort a district assesses above its compressed rate. These pennies are called golden because they are the pennies of tax effort for which a district is able to generate the highest level of supplemental funding, information from the Texas Education Agency states.BISD could use a sixth penny, but it would need voter approval.
The majority of the district revenue comes from local taxes and is determined through the tax levy.
The board meeting is open to the public and will take place in the administration building, 235 Johns Road. During the public hearing, residents have the oppor-tunity to speak about the proposed rate.
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