Ropes ISD will be holding a public meeting Thursday, June 22, in the Ropes ISD Conference Room at 8 a.m. to discuss the school district’s budget that will determine the tax rate that will be adopted.
The tax rate that is ultimately adopted at this meeting or at a separate meeting at a later date may not exceed the proposed rate of $.9429 for maintenance tax and $.3447 for the school debt service tax approved by local voters unless the district publishes a revised notice containing the same information and comparisons set and holds another public meeting to discuss the revised notice.
The applicable percentage increase or decrease (or difference) in the amount budgeted in the preceding fiscal year and the amount budgeted for the fiscal year that begins during the current tax year is indicated for each of the following expenditure categories: Maintenance and operations with a 17.21 percent increase; Debt service with a 5.97 percent decrease; and Total expenditures with a 15.27 percent increase.
The total appraised value and total taxable values calculated for the district are as follows: The total appraised value of all property for the preceding tax year is $149,378,498, and the current tax year is $165,147,985; The total appraised value of new property for the preceding tax year is $8,340,240, and the current tax year amount is $14,300,801; The total taxable value of all property for the preceding tax year is $136,400,467, and the current tax year amount is shown at $149,952,937; and The total taxable value of new property for the preceding tax year is $8,183,188, and the current tax year amount is shown at $14,144,141.
The total amount of outstanding and unpaid bonded indebtness is $8,220,000.
Comparisons of the proposed tax rates with last year’s rates are as follows: Last year’s rates were listed at $.9429, the interest and sinking fund was listed $0.34470, the total was $1.2876, local revenue per student was $3,866 and state revenue per student was $10,776. The rate to maintenance same level of maintenance and operations revenue and pay debts service was $0.91761 for maintenance operations, $0.28271 for interest and sinking fund, $1.20031 for the total, $3,437, for local revenue per student and $10,499 for state revenue per student.
The proposed rate for maintenance and operations is listed at $0.9429, interest and sinking fund is listed at $0.3447, the total is listed at $1.2876 with local revenue per student being $3,869 and the state revenue per student being $10,726.
The average market value of residences for last year is listed at $184,902, while this year’s amount is listed at $212,306.
The average taxable value of residences for the last year is listed at $144,691, and this year’s amount is listed at $169,533.
Last year’s rate versus the proposed rate per $100 value is listed at $1.2876 for last year and $1.2876 this year.
Taxes due on average residences is listed at $1,863.04 last year and $2,182.91 for this year. Increase or decrease in taxes for this year is $319.87.
Under state law, the dollar amount of school taxes imposed on the residence homestead of a person 65 years of age or older or of the surviving spouse of such a person, if the surviving spouse was 55 years of age or older when the person died, may not be increased above the amount paid in the first year after the person turned 65, regardless of changes in tax rate or property value.
The highest tax rate the district can adopt before requiring voter approval at an election is 1.2876. The election will automatically be held if the district adopts a rate in excess of the voter-approval rate.
In regard to fund balances, the estimated balances will remain at the end of the current fiscal year and are not encumbered with or by a corresponding debt obligation, less estimated funds necessary for operating the district before receipt of the first state aid payment.
The maintenance and operations fund balance is listed at $2,200,683 and the interest and sinking fund balance is listed at $873,975.