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Falls City ISD proposes slight tax-rate decrease
FALLS CITY -- Residents of the Falls City Independent School District (ISD) will have the opportunity to weigh in on the district’s proposed 2013-14 budget and tax rate at public hearings set for Aug. 28, following action taken by the board of trustees at its Aug. 7 meeting.
According to Superintendent Tylor Chaplin after the meeting, the budget totals $7,762,654 and is supported by a total proposed ad valorem tax rate of $1.1114 per $100 of assessed property value. Falls City ISD straddles the Wilson-Karnes county line. Appraisal districts in both of those counties have assigned an average taxable value of $40,159 on residential properties within the district. Therefore, if the tax rate is adopted, the average tax bill due to the school district will be $446.33. This is $6.33 less than the average tax bill in the 2012-13 school year, when residential properties had an average taxable value of $40,659.
The proposed tax rate includes $1.04 for maintenance and operations, while the interest and sinking -- debt service -- portion of the rate has decreased by 0.19 cents to 7.14 cents, for a total of $1.1133 per $100 of taxable property value. Chaplin said this the district is working to refinance its $1,120,000 in outstanding debt, with a goal of paying off the balance during the current school year. The budget calls for a debt-service payment of $520,600.
According to the legal notice related to the upcoming hearing, which the board approved for publication, the amount of state revenue per student is set to take a dramatic decline. Under last year’s budget, the district relied on $3,741 per student in state aid, with an additional $9,179 coming from local sources.
For the coming fiscal year, however, state revenue per student plummets to $424, while local taxpayers will contribute $18,402 per student. This comes on the heels of the district reaching Chapter 41 of the state education code’s “Robin Hood” funds distribution system.
To view a summary of the district’s proposed 2013-14 budget, visit www.fcisd.net.
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