Education
BY CODY THORN
TAD passes reappraisal plan despite district objections Taxable value increases
The Tarrant Appraisal District board approved a reappraisal plan despite numerous objections during an Aug. 9 meeting. The changes that were formally approved were voted on during a July 22 special meeting, where the board passed: • Reappraisal every two years instead of every year • Freezing residential property values for tax year 2024-25 at current property values, except for new construction • Setting appraisal caps or thresholds of 5% on properties, absent clear and convincing evi- dence or other possible limitations Per state statutes, the appraisal plan had to be approved by Sept. 15. The changes could result in a loss of money coming into school districts throughout the county, numerous school officials who spoke at the meeting said.
In a nutshell The meeting featured comments from admin- istrators and school board members from eight of the 20 county ISDs. One of the school districts that could be hurt by the changes is Carroll ISD, according to Chief Appraiser Joe Don Bobbitt. He said that early data from the appraisal ratio for Carroll ISD indicates that the market value is about 10% higher than TAD values. He said if the Texas Comptroller of Public Accounts determines TAD is 10% or more below market value, the school districts could lose funding. Bobbitt said other school districts are in the 5-7% range. He said that schools in the 5-10% range would receive a two-year grace period from the comptroller to fix values. Board member Gloria Pena motioned to approve the plan without the freeze to give schools time to figure out the change’s impact, but it failed, 4-2.
From fiscal year 2023-24 to FY 2024-25, Grapevine- Colleyville ISD’s local revenue fell about 16% while Carroll ISD’s local revenue increased by almost 12%.
Carroll ISD Grapevine-Colleyville ISD
$200M
$150M
$100M
$50M
$0
2022-23
2023-24 2024-25
SOURCES: CARROLL ISD, GRAPEVINE-COLLEYVILLE ISD/ COMMUNITY IMPACT NEWSPAPER
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