The Leander ISD school board at its Aug. 9 meeting reviewed the proposed property tax rate, which reflects a 1.211 cent increase over the current rate.
LISD’s 2011-12 tax rate is $1.49976 per $100 of of assessed property value. This rate includes $1.04 toward maintenance and operations, which funds salaries and other ongoing expenses. An additional $0.45976 interest and sinking (I&S) rate funds the district’s outstanding debt. The proposed 2012-13 rate increases the I&S tax rate to $0.47187, for a total tax rate of $1.5118.
The proposed tax rate would increase the average LISD home tax bill by $42.44 annually based on appraised values, according to district documents. This is equal to a 1.31 percent increase.
Ellen Skoviera, assistant superintendent for business and operations, said if the board did not raise the tax rate, LISD would need to use about $1.5 million from savings.
LISD will host a public hearing regarding the proposed tax rate at 6 p.m. Aug. 23 at Cedar Park Middle School, 2100 Sun Chase Blvd., Cedar Park.