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Goose Creek CISD board adopts $1.07 tax rate and approves two bond refundings to lower interest costs
Summary
Trustees approved a $1.07 total tax rate for 2025‑26 and authorized two unlimited tax refunding bond issues intended to reduce the district’s debt service costs by roughly $1.6 million in future interest savings, according to district presentations and votes on Oct. 6.
The Goose Creek Consolidated Independent School District Board of Trustees on Oct. 6 approved a proposed property tax rate of $1.07 per $100 of assessed value for fiscal 2025‑26 and authorized two refunding bond issues intended to lower the district’s interest costs.
Bridget Clark, the district’s chief financial officer, presented the proposal and explained the tax‑rate components: a maintenance and operations (M&O) rate (the voter‑approved rate) proposed at 0.745 and an interest and sinking (I&S) rate of 0.325 for a total rate of $1.07. Clark said the proposed M&O rate exceeded the no‑new‑revenue rate (0.7229), which by state law requires a supermajority vote: "Section 26.05(b) of the Property Tax Code requires 5 out of 7 board members" to approve a rate above the…
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