2022 VOTER GUIDE
Proposition B
A VATRE is set is motion when: • A district adopts an M&O tax rate that is above the voter-approval rate. For PfISD, that gure is $0.8646 per $100 of valuation. If a district adopts a tax rate before a budget: • District must publish notice of and hold a meeting to further discuss the proposed rate. For PfISD, that gure is $1.2646. • Following adoption of the proposed rate, the district must publish notice of and hold a meeting to adopt the budget. • District ocials must order a VATRE for the next uniform election date. WHAT IS A VATRE? PfISD has approved a voter approval tax rate election, or VATRE, that will impact the maintenance and operations, or M&O, portion of the district tax rate.
District makes second attempt at tax rate election Though the proposed tax rate for P ugerville ISD is the lowest it has been in 30 years, the gure still exceeds what the state allows. PfISD Chief Financial O cer Jennifer Land said the total taxable valuation within the district increased from $17.6 billion in FY 2021-22 to $22.16 billion in FY 2022-23, representing an increase of about 26%. The rise in valuation means that a proposed rate of $1.2646 for 2022-23—$0.1234 lower than last year’s rate of $1.388—is still in excess of what is legally allowed by the state’s Senate Bill 2, which caps property tax revenue at 3.5% over the previous year. Following an assessment of scal need for the 2022-23 school year, the PfISD board of trustees voted to accept the proposed tax rate. That approval required the board to approve a voter approval tax rati cation election, or VATRE, to take place in November. Voters previously turned down a VATRE in November 2021. VOTER APPROVAL TAX RATE ELECTION
IF APPROVED:
• The VATRE requires a simple majority to pass. • The adopted tax rate stands.
IF NOT APPROVED:
• The district tax rate may not exceed the voter-approved rate. • The board will amend the tax rate and adjust projected revenues for the 2022-23 school year, roughly $6.9 million less in state and local taxes. • The district would likely work toward another VATRE for November 2023, depending on state action in the 2023 legislative session regarding basic allotment per student to districts.
PfISD is looking at a multimillion-dollar de cit for scal year 2022-23. To o set the projected de cit, the board called a voter approval tax rate election, or VATRE, for the Nov. 8 election. REASON FOR THE ELECTION
COST TO TAXPAYERS
The PfISD portion of a property owner’s tax bill for the 2022-23 scal year will be lower than the previous year whether the tax rate election passes or fails.
2021-22 tax rate: $1.388
Di erence: $0.1234
Proposed 2022-23 tax rate: $1.2646
2021-22
Di erence: $0.04
Average taxable home value
Average tax payment to PfISD
Allowable 2022-23 tax rate without an election: $1.2246
$264,890 $3,676.67
Anticipated de cit if VATRE fails: $11.2 million
Di erence: $6.9 million
Anticipated de cit if VATRE passes: $4.3 million
2022-23 with no VATRE
Average taxable home value
Average tax payment to PfISD
SOURCE: PFLUGERVILLE ISD COMMUNITY IMPACT
$278,651
$3,412.36
BREAKING DOWN THE RATE Though the VATRE for PfISD would result in a higher tax bill for property owners living in the district, the proposed rate will be signi cantly lower than it was for the 2021-22 scal year.
7.19% DECREASE from 2021-22 payment
Maintenance and operations rate
Interest and sinking rate
2022-23 with VATRE
$0.46
$0.36
$0.36
Average taxable home value
Average tax payment to PfISD
TOTAL: $1.388
TOTAL: $1.2646
TOTAL: $1.2246
$278,651
$3,523.82
$0.928
$0.9046
$0.8646
4.16% DECREASE from 2021-22 payment Di erence: $152.85
Proposed 2022-23 rate with VATRE
Amended rate if VATRE fails
2021-22 rate
SOURCES: PFLUGERVILLE ISD, TEXAS COMPTROLLER’S OFFICE COMMUNITY IMPACT
Own a piece of TX Real Estate Call me for all your Real Estate Needs
for County Commissioner Precinct 4
Helping build the Texas Dream since 2001 Paul Williams
paulwilliamsrealty@gmail.com 512.785.0186 Ask me about interest rate buy down specials
21
PFLUGERVILLE HUTTO EDITION • OCTOBER 2022
Powered by FlippingBook