AUSTIN (KXAN) — Austin Independent School District’s Board of Trustees will vote in its regular meeting Sept. 23 on its lowest tax rate in 20 years.
AISD says if it’s approved, the new tax rate is a 4-cent decrease from the rate in 2020 at $1.0617 for every $100 of the home’s value.
While in theory that would mean taxes would go down, with home values essentially all increasing, AISD officials said the average homeowner’s bills will go up around $274. Without the decreased tax rate, bills would go up even more to about $476, so the board says it could save homeowners about $200 if it passes the new rate.
Property taxes are where AISD gets most of its revenue, but with how public schools are funded in Texas, AISD sends almost half of that to the state to be dispersed to school districts that have less taxable property.
This year, AISD will send 49% of its property tax collection to the state. In 2020, the district sent 48%, it said.
Austin Community College passes lower rate, too
Austin Community College also passed a lower tax rate Sept. 13. Its new tax rate is 10.48 cents per $100 valuation, one-tenth of a cent lower than 2020 due to a decreased debt service rate. It’s still the lowest tax rate of all community colleges in Texas, ACC officials said.
ACC also passed new homestead exemptions, both standard and for senior/disabled homeowners, and exemptions for commercial property owners.
Credit: Source link
