Education
Argyle ISD calls for tax rate election this fall The Argyle ISD board of trustees unanimously approved calling a voter-approval tax rate election, or VATRE, for Nov. 5 during an Aug. 19 meeting. The board also approved a $57 million budget for fiscal year 2024-25 with a $1.29 million shortfall and a total tax rate of $1.2869, according to doc- uments. The tax rate is based on a $.077 increase in the maintenance and operations tax rate contingent upon the VATRE passing this election, but the budget does not include the $2.5 million in revenue that it would generate. As a result of the lack of increased state funding, AISD has adopted shortfall budgets for both the 2023-2024 and 2024-2025 school years, Chief Financial Officer Liz Stewart said. This shortfall is partly because the basic allotment per student has remained unchanged since 2019, while inflation has increased, reducing the ability to support teachers and staff effectively, she added.
NISD opposes TAD reappraisal plan
Argyle ISD tax rate per $100 valuation
$0 $0.3 $0.6 $0.9 $1.2 $1.5
Superintendent Mark Foust said North- west ISD could lose up to $10 million annually in state funding due to changes the Tarrant Appraisal District made to how it appraises properties. The details At the Aug. 13 board meeting, Chief Finan- cial Officer Jonathan Pastusek said proposed TAD changes include reappraising properties every two years, freezing property values for tax year 2024-25 at current values, and setting appraisal caps at 5%. Official said the changes could be chal- lenging for high-growth districts like NISD. Negative impacts to the district include a lack of budget funding that could lead to higher NISD tax rates.
2020-21
2021-22 2022-23
2024-25* 2023-24
SOURCES: ARGYLE ISD, DENTON CENTRAL APPRAISAL DISTRICT/COMMUNITY IMPACT
*INCLUDING VATRE
What you need to know The M&O tax rate, which funds district oper- ations, in FY 2023-24 was $0.7122. Without the VATRE, it would be $0.7099 in FY 2024-25. If the VATRE passes, the M&O tax rate would be $0.7869, an annual $77 increase for every $100,000 of taxable home value, per district documents. If approved, AISD would allocate VATRE revenue toward staff raises, offsetting the budget shortfall and classroom equipment, Stewart said. Early voting is from Oct. 21 to Nov. 1, with Election Day on Nov. 5.
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