Education
BY HANNAH JOHNSON
Frisco ISD board members voted 5-2 to place a tax rate election on the ballot for Nov. 5 during an Aug. 19 meeting. Voters will consider raising the maintenance and operation tax rate by $0.0294 per $100 valuation in a voter-approval tax rate election, also known as a VATRE. A VATRE is used when a district needs to increase its tax rate above a certain threshold. The maintenance and operations, or M&O, portion of the tax rate funds payroll and other operational costs. The district’s total tax rate would be $1.0569 per $100 valuation, if approved by voters. This is broken down between $0.7869 for M&O and $0.27 for interest and sinking, which covers debt payments. Voters to decide district tax rate
Some context
Average homestead tax bill The average Frisco ISD homeowner can expect a higher tax bill this year. Due to rising property valuations, the average tax bill is expected to increase by about 15% from 2023 to 2024.
The average Frisco ISD homeowner can expect their tax bill to increase by $759. If the increase passes, $158 would be due to the tax rate while $601 will be a result of increasing home appraisals. This is based on an average home valuation of $727,914 and a taxable value of $539,763, according to a board workshop presentation. The new tax rate would generate an additional $11.5 million in revenue for the district. In total, the increase would generate $19.5 million in revenue, but $8 million would go to the state in recapture, according to the meeting presentation. FISD voters last approved raising the maintenance and operations portion of the tax rate by $0.13 per $100 valuation in 2018.
$5,722.04
2018
$5,416.38
2019
$5,351.97
2020
$5,484.24
2021
$5,776
2022
$4,945.38
2023
$5,704.76
2024
$0 $1K $2K $3K $4K $5K $6K
SOURCE: FRISCO ISD/COMMUNITY IMPACT
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