Education
BY WESLEY GARDNER
Humble ISD trustees vote to drop tax rate by more than 14%
Humble ISD trustees adopted a significantly lower tax rate than what was proposed earlier this year following the passage of Senate Bill 2 in July. The overview During a Sept. 12 meeting, trustees voted unanimously to adopt a tax rate of $1.1075 per $100 valuation for the upcoming fiscal year, down from last year’s rate of $1.2929 per $100 valuation. According to district documents, the approved tax rate: • Includes $0.7575 for maintenance and oper- ations, which pays for HISD’s general fund balance • Includes $0.35 for debt service, which funds debt service from bonds • Is based on a total appraised value of more than $28.9 billion and a total estimated taxable value of roughly $23 billion, according to estimates provided by the Harris Central Appraisal District
• Is about $0.18 less than the district’s FY 2022-23 tax rate District officials said the 2023-24 tax rate rep- resents a roughly 14.3% decrease from last year’s rate and marks the fifth consecutive year trustees have voted to lower the tax rate. How we got here In June, the district proposed a tax rate of $1.2312 per $100 valuation. However, the passage of SB 2 in July required district officials to adjust the tax rate to account for an increase to the homestead tax exemption, which will rise from $40,000 to $100,000. What’s next Texans will need to approve a constitutional amendment included in SB 2 during the Nov. 7 election for the tax cuts to show up on this year’s tax bill.
Historical tax rates Humble ISD trustees have lowered the district’s property tax rate for five consecutive years.
$1.50
$1.2929
$1.30
$1.3841
$1.4183
$1.3389
$1.10
$1.1075
$0
SOURCE: HUMBLE ISD/COMMUNITY IMPACT
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