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Gatesville ISD presents balanced preliminary budget after state funding shifts; board consents to framework
Summary
Gatesville ISD trustees heard staff outline a preliminary budget that remains balanced despite lower local property tax revenue from an expanded homestead exemption; the board consented to a framework for a proposed budget the board will finalize later this month.
Gatesville ISD trustees on Thursday reviewed a preliminary 2025–26 budget that staff say remains in balance despite an estimated drop in locally collected property tax revenue after the state raised the homestead exemption. The board consented to the budget framework and will receive a finalized proposed budget later in the month for adoption.
District staff told trustees the homestead exemption increase — raised this year to $140,000 — reduced local tax collections, and that the district’s certified property value fell in comparison with last year. Staff said state funding formulas are expected to replace much of the lost local tax revenue, producing a net revenue change across different funding streams rather than an absolute loss to the district.
Superintendent-level staff…
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