Board approves 2025 official tax rate at $0.9182

The board of trustees voted Sept. 9 to adopt an official tax rate of 0.9182 for tax year 2025, the same rate the district charged in fiscal 2024. The vote followed a public hearing in which district staff presented the rate recommendation and a review of recent valuation changes. "We are now proposing that we maintain the same tax rate as fiscal year 2024, and so that would be actually 0.9182," the district presenter said.

The recommendation matters because the adopted rate determines property tax revenue available to the district next year; administrators said the 0.9182 rate breaks down to 0.7552 for maintenance and operations and 0.1630 for interest and sinking. In the presentation staff said the proposed total property tax revenue for the district was approximately $43.8 million, including an estimate for delinquent tax collections and penalties.

District staff told the board they had presented a preliminary tax rate of $0.90 per $100 of valuation in June based on preliminary property valuations and an estimate of state compression. After final property values and state compression estimates were available, administrators recommended keeping the current-year rate of 0.9182. "At the time that we presented that preliminary tax rate, we were looking at preliminary property tax valuations ... and we were estimating a tax rate of 90¢. Now ... we are now proposing that we maintain the same tax rate as fiscal year 2024," the presenter said.

The presenter also explained a pending ballot measure that could affect taxpayers next year: if voters approve an increase in the homestead exemption in November, the district would honor that change when appraisal districts issue bills. Staff described the possible increase from a $100,000 homestead exemption to $140,000, and said the additional exemption for taxpayers age 65 and over or disabled could increase from $10,000 to $60,000 if approved by voters. The presenter said the district would implement any approved change retroactively when appraisal district bills are issued.

Board members asked about public notice and next steps. Administration said the required newspaper posting was completed and that the board would revisit budget amendments in October to account for revised revenue projections. At the Sept. 9 meeting a motion to approve the proposed official tax rate passed on a voice vote.