Education
BY ELLE BENT
Austin ISD asks voters for tax increase to offset $119M deficit
Austin ISD officials are depending on voters’ approval of a tax rate increase in order to lessen a looming budget deficit of $119 million. At an Aug. 19 meeting, the AISD board of trustees voted 8-1, with board member Kevin Foster voting no, to place the issue on the November ballot. Foster cited that more money would be given to the state due to recapture—when the state takes local property tax dollars from a district to redistribute to other public school districts— and would do little to ease the deficit. Recapture payments would increase with a voter-approval tax rate election, or VATRE, by an additional $130 million. Officials predict a VATRE would generate $41 million after recapture in revenue under a tax rate of $0.9505 per $100 valuation. This would be a $34-per-month increase to the average homeowner and is an 8.3% increase from the current tax rate of $0.8595 per $100 valuation. A VATRE would give way to adjust employee pay
Comparing tax rates How the average Austin ISD taxpayer will be affected by a potential tax increase:
FY 2023-24 CURRENT
$0.8595 per $100 valuation
$34 monthly increase
PROPOSED FY 2024-25
$0.9505 per $100 valuation
For the average $553,493 appraised home, the average homeowner would pay $4,310 in Austin ISD taxes. An estimated $821M would be taken by the state due to recapture.
For the average $553,493 appraised home, the average homeowner would pay $3,897 in Austin ISD taxes. An estimated $691M would be taken by the state due to recapture.
SOURCE: AUSTIN ISD/COMMUNITY IMPACT
been in support of a pay increase through the VATRE. Additionally, four seats on the board of trustees are up for election in November.
to compare with other districts and a $0.25-per- hour increase for hourly employees. Without the VATRE, the district won’t offer the pay increases. The district’s labor union Education Austin has
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by Fidencio Durán
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SOUTH CENTRAL AUSTIN EDITION
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