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Laredo ISD corrects published tax‑rate notice, presents proposed 2025–26 budget figures at June 24 public hearing
Summary
District finance staff told trustees a published Truth‑in‑Taxation notice contained swapped figures and committed to republish corrected numbers; the board held a public hearing on the budget and tax rate and adjourned the hearing with a recess.
LAREDO, Texas — At a public hearing on June 24, LAREDO ISD finance staff told the board of trustees that a Truth‑in‑Taxation notice the district published included swapped figures and would be republished with corrected numbers. The hearing reviewed the district’s proposed 2025–26 revenues and expenditures and outlined the preliminary tax‑rate proposal that will be finalized after certified property values arrive in August.
Finance staff said the notice compared the proposed rates to last year’s rate using incorrect columns. The corrected comparison should show a combined rate of about 1.237 (the presenter said “the correct rate should be 1.237”), but the district is proposing a lower total rate of 1.1568: a maintenance and operations (M&O) rate of 0.6669 and an interest and sinking (I&S) rate of 0.4899. The presenter warned that if the board later adopts a rate higher than 1.1568, state law would trigger an automatic election and require republishing the notice.
The presenter also provided estimates for the effect on an average homeowner: last year’s average taxable value was reported as $26,007.38 and this year’s as $31,757, producing an estimated average tax bill of $367.36 this year versus $323.85 last year — a difference of about $43.51 based on preliminary values the district used. The district’s fiscal presentation showed a previously communicated deficit of about $18.7 million and fund balances of roughly $83.5 million in the M&O fund and $28.2 million in the I&S fund, per the presenter.
Trustee Rodolfo Morales III asked whether the district must republish immediately or whether the error was nominal; finance staff said they had consulted an attorney and that republishing will be done to correct the notice. The presenter confirmed she would republish with corrected numbers.
The public‑notice portion of the hearing drew no public comments on the budget or the tax rate. The board adjourned that public hearing at about 5:23 p.m. and recessed before returning for the regular meeting.
Why it matters: The notice and its numbers determine whether the district must hold an additional election and shape public understanding ahead of the final tax‑rate adoption, which will follow receipt of certified property values in August.
Additional details: Finance staff stressed the tax‑rate emphasis in Truth‑in‑Taxation rules and said final adoption will come after certified values are received. No tax rate was adopted at the June 24 meeting; the presentation was part of the statutorily required public hearing and budget calendar process.
