Election
BY BROOKE SJOBERG
Round Rock voters to consider bond with new tax rate
The Round Rock ISD board of trustees ratified its tax rate for the 2024-25 fiscal year Sept. 19, mark- ing one of the last steps in its budgetary process. What you need to know The tax rate of $0.8931 per $100 of valuation for FY 2024-25 is $0.0259 lower than last year’s rate of $0.9190 per $100 of valuation. Documents show the lowered tax rate may result in a $19.79 savings for the tax bill of a home with a value of $383,201, the average taxable home value within the district. How we got here District officials, prior to passing the rate, discussed how low they could be set it and still pay as much bond debt they are asking residents to approve in November—a total $988M bond. Per district documents, the approved tax rate includes a 1.5-cent decrease to the debt service rate, as well as a decrease of just over 1 cent to the
maintenance and operations rate. The lower rate comes as the Texas Education Agency provided a finalized maximum compres- sion rate, RRISD’s Chief Financial Officer Dennis Covington said. The MCR is the lowest threshold a district can set its maintenance and operations tax rate, based on the district’s total property value. Did you know? As RRISD has a July 1 start to its fiscal year, the district is provided an estimated MCR by the TEA to build its budget while it waits for property values to be finalized. The TEA estimated that property values would increase more than they did, Covington said, and provided an initial estimated MCR of $0.6100. How- ever, property values rose by about 2%, meaning the MCR was slightly increased. This year’s final MCR is $0.6301, with eight additional pennies approved by voters last fall, bringing the M&O rate to $0.7101 per $100.
Round Rock ISD tax rate comparisons Round Rock ISD trustees approved a slightly lower tax rate for the 2024-25 fiscal year.
FY 2023-24 FY 2024-25
Average Taxable Home Value Total tax rate per $100 of valuation
$374,555
$383,201
$0.9190
$0.8931
Total tax amount
$3,442.16 $3,422.37
SOURCE: ROUND ROCK ISD/COMMUNITY IMPACT
What’s next? Voters will consider in November a bond pack- age totaling just under $1 billion, funded through the debt service rate. The tax rate won’t change based on the outcome, district staff confirmed.
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