BY CHLOE YOUNG
Liberty Hill ISD considers tax rate increase, vote Liberty Hill ISD may ask voters to approve an increase to the district’s tax rate for fiscal year 2024-25 as it projects a $8.5 million budget shortfall. District officials discussed the revenue for the district and the cost to taxpayers associated with various tax rate increases during a budget workshop at a May 6 special meeting. The district is projecting a $8.5 million budget shortfall for FY 2024-25 and a $2 million shortfall this fiscal year, Chief Financial Officer Rosanna Guerrero said. By the numbers The district is projecting to adopt a maintenance and operations tax rate of $0.6669 per $100 valua- tion, which would cost homeowners $3,082 in taxes a year based on the area’s median home value of $462,264, Guerrero said. While this proposed rate is lower than the FY 2023-24 M&O tax rate of $0.6692 due to
District selects design for elementary school Liberty Hill ISD will build its eighth elementary school to accommodate 1,000 students—200 more than its existing elemen- tary campuses. The two-story school, which is slated to open in 2026 in the Lariat master-planned community, will have 54 total classrooms. This comes as several elementary cam- puses designed for 800 students reach or exceed capacity.
Tax rate options
Additional revenue for district
Additional annual cost to homeowners
Maintenance and operations tax rate
$0.6969
$4,575,742
+$138.68
$0.7269
$6,228,481
+$277.36
$0.7869
$9,511,486 +$554.72
SOURCE: LIBERTY HILL ISD/COMMUNITY IMPACT
compression from the state, Guerrero said the district is looking at several tax rate increases, which may require a voter-approval tax rate election, or VATRE. The district would need to hold a VATRE to adopt a M&O tax rate higher than $0.6669, Guerrero said. A M&O tax rate above $0.6969 would require the district to begin paying recapture back to the state if it is approved through a VATRE and an attendance credit election. Composed of both the M&O rate and an interest and sinking rate, the district has decreased its overall tax rate by $0.375 since 2019.
200
183
214
1869
29
332
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17
LEANDER - LIBERTY HILL EDITION
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