HENDERSON, Texas (KETK)- Henderson ISD trustees agreed on the tax rate and 2022-2023 budget on Tuesday. Officials voted unanimously for a tax rate of $1.1299 per $100 of assessed value.
$0.8999 of the tax is for maintenance and operations and $0.23 for interest and sinking to pay for previously issued bonds.
“This rate is nearly six and a half cents less than last year’s tax rate,” explained Kristin Byrd, HISD
Chief Financial Officer.
The board approved a budget with the following:
- a balanced general fund budget of $34 million
- a balanced child nutrition budget of $2.8 million
- a surplus budget for debt relief with $3.7 million in expenses and $4.3 million in revenues
“As is typical… seventy-eight percent of the general budget is allocated for payroll costs,” said Byrd.
The three biggest parts of the budget are the extra curricular activities, plant maintenance and operations and instruction. A 10% raise for teachers is also included in the calculations.
Byrd also said property values went up by more than 10% (160 million) since last year.
The chief financial officer also told officials about the “no-new revenue rate” that the district needs to calculate by law.
“This is the rate at which the same amount of revenue is raised using last year’s values,” said Byrd.
The new rate is 8.5 cents higher. The no-new revenue rate does not take into consideration district growth, pay raises or inflationary cost increases.
The new budget will be used beginning Sept. 1.