BISD board about to call for tax rollback election

The Breckenridge ISD board is working on its 2018-19 tax rate and budget, and next month is set to adopt a rate that will garner greater state funding while having little effect on residents’ tax bills.

The current, 2017-18 tax rate is $1.04 (Maintenance & Operations) plus 12.85 cents (Interest & Sinking) for a total of $1.1685 per $100 in valuation. 

The board holds the first public meeting to discuss its proposed 2018-19 tax rate at 6:30 p.m. Monday, July 9, during the BISD regular monthly board meeting at 6 p.m. 

After the public hearing, the board will adopt the proposed tax rate of $1.17 for M&O plus 13 cents for I&S for a total rate of $1.30, and in that same motion will include wording that states if the voters approve the $1.30 tax rate, the I&S rate will be reduced by $0.13 resulting in a total tax rate of $1.17, BISD Superintendent Tim Seymore said. Setting the rate at these numbers will trigger a tax rollback election, which is tentatively set for Saturday, Aug. 25, a date that will be finalized once the proposed tax rate is adopted.

By moving all of the tax rate to the M&O side, BISD can collect $270,000 more in state funding, while the taxpayers of Stephens County will have the same total tax bill as if the M&O rate was $1.04 and the I&S rate was $0.13.

This process has been successfully used by hundreds of Texas school districts to help equalize per-student state funding, which varies widely. In the 10 years of HB1 (Texas’ current education law), 576 tax rollback elections were called by school districts across the state. The voters in 437 of the elections approved the rate adopted by the board. The voters approved the tax rates in 76 percent of the elections.

To read more about the school board meeting, pick up a copy of the Breckenridge American, or subscribe to our online paper.