Off the Kuff Rotating Header Image

HISD Board approves one cent tax rate increase

Still a low tax rate, just slightly higher now.

As architects prepare designs for dozens of new campuses, the Houston school board on Thursday approved a 1-cent tax rate increase to help pay down debt from the largest school district construction bond in Texas history.

The board voted 7-1 to raise the tax rate, the second increase in two years tied to the district’s $1.9 billion bond issue approved by voters two years ago. The 3-cent rate hike last year went toward day-to-day operational expenses as well as building debt.

The owners of an average-priced home whose property values rose significantly could see their bills grow by $250 over last year, while the increase will be closer to $15 for those with stagnant values.

Leaders of the Houston Independent School District had told voters in 2012 to expect a rate increase of 4.85 cents, phased in over several years, to fund the construction debt. HISD’s chief financial officer, Ken Huewitt, now says the full rate hike may not be necessary thanks to fast-rising property values, but district officials will have to review the data annually.

“Obviously, we’re ahead of the game right now,” Huewitt said. “I have to think we’ll stay ahead of the game.”

HISD’s new tax rate for 2014 is $1.1967 per $100 of taxable value, keeping the rate the lowest of all school districts in Harris County.

No surprise here, this has been on the table since the 2012 bond referendum was announced. Far as I’m concerned, as long as they do a better job of managing and completing those construction projects than they did with the 2007 referendum, it’s all good. K-12 Zone and Hair Balls have more.

Related Posts:

Comments are closed.