FROM STAFF REPORTS
MARBLE FALLS — The Marble Falls Independent School District board of trustees approved an approximately $40 million budget for the 2016-17 fiscal year and the tax rate to support it during an Aug. 29 meeting.
The ad valorem tax rate will remain at $1.28, which it has been since the 2012-13 fiscal year.
MFISD Superintendent Chris Allen attributed that number holding firm to two reasons. First, he pointed to the staff of the business office, who kept a close eye on the district’s finances and spending.
“The second part is our general area is experiencing some development, both commercial and residential,” he said. “This causes our overall property values to increase.”
New growth or development adds more property to the taxable values. This new growth then deepens the pot from which taxing entities collect. But just because a tax rate remains unchanged from the previous years doesn’t mean tax bills for homeowners or property owners will stay the same.
A tax bill also depends on the appraised value of the property. If the property value goes up — even if the tax rate remains the same — the tax bill will likely climb.
The same holds true if the property value drops, but in reverse. If the property value decreases, but the tax rate remains the same, then a tax bill (for the tax rate in question) would likely drop.
Other factors that influence a tax bill include other taxing entities (city, county, emergency services, etc.) the property lies within.
The budget reflects an increase over the previous budget, which was approximately $38 million. Allen said the increase reflects some added spending to curriculum and instruction as well as a 2-percent general pay raise.
The district also reported that it is edging to paying off it’s bond debt.
“We’re paying off our bond debt faster than expected,” Allen added.