The additional state funding sent to Texas school districts as part of the 86th Legislature’s House Bill 3 this summer helped lead Elysian Fields ISD trustees to adopt a decreased tax rate and a surplus budget Monday.
Elysian Fields ISD trustees adopted a decreased tax rate of $1.16 per $100 of home valuation on Monday, down from 2018’s adopted tax rate of $1.35 per $100 home valuation.
The 2019 tax rate consists of $0.97 on the maintenance and operations side, a decrease from $1.04 thanks to HB 3, and $0.19 on the interest and sinking side, a decrease from $0.31 in 2018.
This means, for a home valued at $100,000, the tax bill would be $1,160, barring exemptions.
The district’s trustees on Monday also adopted about an $854,000 surplus budget for the 2019-20 school year, with expenditures coming in for the district at about $10.8 million and revenue coming in at about $11.6 million.
The adopted budget includes about $175,000 for facilities acquisition and construction, in addition to about $1.2 million for plant operations and maintenance.
The bulk of the $10.8 million budget comes from the $4.7 million for teacher and staff salaries, excluding administration personnel.
The district’s 2019-20 adopted budget and tax rate point to a better financial standing than 2018, when the district adopted a $9.3 million overall deficit budget.
As part of the landmark $11.6 billion HB 3 passed by the 86th legislature in June, the state required districts to provide raises for teachers, provided an increase in state funding per student and reduced property taxes.