Tax Notice / Rates

Adopted Tax Rate 2014 
Maintenance and Operation Tax                     $1.170000/$100 
Interest and Sinking Tax                                 $0.0234 
Total Tax Rate for 2014                                $1.404009 
School Debt Service Tax
Approved by Local Voters                      $0.204800/$100 (proposed rate to pay bonded indebtedness)

Comparison of Proposed Budget with Last Year's Budget
The applicable percentage increase or decrease (or difference) in the amount budgeted in the preceding fiscal year and the amount budgeted for the fiscal year that begins during the current tax year is indicated for each of the following expenditure categories.
Maintenance and operations                12.15 % increase
Debt Service                                               -6.64 % decrease
Total expenditures                                     10.41 % increase
Total Appraised Value and Total Taxable Value (as calculated under Section 26.04, Tax Code)
                                                                                                    Preceding Tax Year             Current Tax Year
Total appraised value* of all property                                $346,593,515                           $413,132,854
Total appraised value* of new property**                         $4,286,632                               $3,428,706
Total taxable value*** of all property                                  $291,472,698                           $358,538,815
Total taxable value*** of new property**                           $4,286,632                               $2,976,579
*Appraised value is the amount shown on the appraisal roll and defined by Section 1.04(8), Tax Code.
** "New property" is defined by Section 26.012(17), Tax Code.
*** "Taxable value" is defined by Section 1.04(10), Tax Code.

Bonded Indebtedness 
Total amount of outstanding and unpaid bonded indebtedness*   $9,995,000 
*Outstanding principal


Comparison of Proposed Rates with Last Year's Rates
                                         Maint. & Op.        Int. & Sinking Fund*         Total          Local Revenue - Student        State Rev. - Student                                                           
Last Year's Rate                 $1.131400          $0.216400*             $1.347800                  $2,336                           $7,128
Rate to Maintain
Same Level of
Maintenance &
Operations Revenue
& Pay Debt Service          $1.131096           $0.204839*             $1.335935                 $2,859                           $6,979
Proposed Rate                  $1.170000           $0.204800*              $1.374800                 $2,977                           $7,381

*The Interest & Sinking Fund tax revenue is used to pay for bonded indebtedness on construction, equipment, or both.
The bonds, and the tax rate necessary to pay those bonds, were approved by the voters of this district.

Comparison of Proposed Levy with Last Year's Levy on Average Residence
                                                                                                                                       Last Year                  This Year 

Average Market Value of Residences                                                                $50,002                    $53,240

Average Taxable Value of Residences                                                              $32,623                     $35,599

Last Year's Rate Versus Proposed Rate per $100 Value                                 $1.347800                $1.374800

Taxes Due on Average Residence                                                                      $439.69                     $489.42

Increase (Decrease) in Taxes                                                                                                                    $49.73


Under state law, the dollar amount of school taxes imposed on the residence homestead of a person 65 years of age or older or of the surviving spouse of such a person, if the surviving spouse was 55 years of age or older when the person died, may not be increased above the amount paid in the first year after the person turned 65, regardless of changes in tax rate or property value.

Notice of Rollback Rate:

The highest tax rate the district can adopt before requiring voter approval at an election is $1.374839. This election will be automatically held if the district adopts a rate in excess of the rollback rate of $1.374839.

Fund Balances

The following estimated balances will remain at the end of the current fiscal year and are not encumbered with or by a corresponding debt obligation, less estimated funds necessary for operating the district before receipt of the first state aid payment.

Maintenance and Operations Fund Balance(s)                   $5,619,954

Interest & Sinking Fund Balance(s)                                            $1,305,305

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