HUTTO – Hutto Independent School District has announced a public meeting at 5:30 p.m. June 20 to discuss the 2023-24 school year tax rate. The meeting will be at the Central Administration Board Room, 200 College St.
The rate being proposed and discussed is $1.3129 per $100 valuation. That represents an 8-cent reduction in the previous year’s tax rate, but it is higher than the no new revenue rate of $1.3081.
“You need to understand that whatever is published and whatever you vote on tonight is a proposed rate, it doesn’t mean it’s the rate you need to adopt. You can always adopt something lower,” Chief Financial Officer Glenn Graham told the board of trustees at a May 24 council meeting.
According to documents filed by the district, the proposed rate would raise the district’s local tax revenue by 4.58%, from $10,911 to $11,411 per student. The state revenue per student would increase from $2,455 to $2,779 if the proposed rate is approved.
The proposed tax breaks down to a $0.8629 maintenance and operation rate, which pays for most district operations and $0.45 interesting and sinking rate used to service debt. Maintenance and operation is the portion that was reduced from last year. Interest and sinking remained the same.
According to numbers published by HISD, the average market value of a home in the district has decreased from $461,421 to $446,718. If approved, the new rate would result in a $231 reduction in taxes in that situation.
Properties that have had increases in value without exemptions could still see their tax bill rise.
The final approved tax rate will be adopted in August.
