Austin ISD seeks voter approval for tax increase to address budget shortfall

The San Angelo Independent School District (SAISD) Board of Trustees has approved a Tax Rate Election, known as Proposition A, for the November 5, 2024, ballot. Voters will be asked to approve or disapprove a tax rate of 81.231 cents. Notably, the tax rate will remain unchanged for homeowners within the district. The funding for the district will come primarily from local taxpayers, with the state contributing over $4 million annually. Early voting is scheduled from October 21 to October 29, with election day on November 5.

Meanwhile, the Austin Independent School District (AISD) Board of Trustees has approved a Voter Approval Tax Rate Election (VATRE) for the November ballot to address a $119 million budget deficit. If approved, the tax rate would increase by 9.1 cents per $100 of taxable value, raising the rate from $0.8595 to $0.9505. This increase would cost the average homeowner approximately $412 more per year. The VATRE is expected to generate around $171 million in new revenues, with about $130 million going back to the state, leaving $41 million to help reduce the district's deficit. Trustee Kevin Foster voted against the proposal, expressing concerns about its efficacy in significantly impacting the budget shortfall.

In another development, Boyd Independent School District (Boyd ISD) trustees have unanimously approved the 2024-25 fiscal year tax rate and budget. The property tax rate has been increased by 3.5 cents to $0.8942 per $100 valuation. The approved budget, which includes a deficit of $522,287, allocates funds for various expenses including $291,494 for teacher pay raises and $82,881 for other employee raises. The district also plans significant expenditures on HVAC equipment and work throughout the district, totaling $5,037,404. The district has received an "Aaa" rating based on the Permanent School Fund guarantee and an underlying credit rating from Moody's Ratings.