At the August 9 Special Called Board Meeting trustees were presented with the 2022-23 proposed budgets for Maintenance and Operations (M&O), Debt Service (I&S), and Child Nutrition. The proposed budget calls for the total M&O and I&S rate to be reduced by 11.4 cents, the lowest tax rate in 30 years at a proposed rate of $1.0542 per $100 of assessed property value.
“The reduction is due to two factors: first, the M&O tax rate was compressed due to House Bill Three requirements to reduce the M&O rate as property values increase,” said Chief Financial Officer Randy Meyer. “And second, the District is setting an I&S rate at the rate needed to generate the approximately $10 million debt payment for the 2022-2023 school year.”
The proposed M&O budget of $125,519,262 will fund the general operation of the school district for the coming year and making good on the Districts promise to continue to make competitive pay and attracting candidates a priority, including a 2% of mid-point pay increase for staff..
The VISD Board of Trustees have scheduled a public hearing to discuss the proposed budget and proposed tax rate at the August regular monthly School Board Meeting on Thursday, August 25, 2022 at 6 p.m.