Election
BY BROOKE SJOBERG
Seeking a solution to budgetary restrictions limiting its ability to adequately increase teacher pay, Round Rock ISD will hold a voter-approval tax ratification election, also known as a VATRE, on Nov. 7. The tax rate election represents a localized solution to a widespread problem: increases in recapture payments due to the state alongside other budgetary pressures. These issues limit school districts’ abilities to provide raises to teachers that keep pace with inflation. This is the first VATRE called by RRISD. While school districts did receive some additional funding under House Bill 100, it is not enough to cover the cost of giving the additional compensation increases. RRISD to hold tax rate election
Changing taxes
What’s next
While the overall tax rate is lower due to state- mandated compression, the district is expecting the new rate to generate more tax revenue.
Approving the new tax rate would result in: • $19 million in new tax revenue for Round Rock ISD • An additional 3% compensation increase for staff Not approving the new tax rate would result in: • Budget cuts for district programs, such as fine arts and electives • Elimination of some support staff positions to retain teaching positions $19M Amount new tax rate would generate $33M Deficit should VATRE fail $77M+ Recapture payment to the state
$1.0626 * FY 2022-23 tax rate
Proposed FY 2023-24 tax rate
$0.919 *
For a home worth $500,000, the total annual impact is expected to cost voters $752 less than the previous year.
Terms to know Voter-approval tax ratification election: An election must be held if district officials want to raise the tax rate beyond the voter-approved rate. Recapture: Tax revenue raised locally exceeding what the district is allowed to keep based on a formula is sent back to the state.
*PER $100 HOME VALUATION
SOURCE: ROUND ROCK ISD/COMMUNITY IMPACT
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ROUND ROCK EDITION
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