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Gatesville ISD trustees approve preliminary budget framework; tax rate unchanged despite homestead exemption increase
Summary
Trustees reviewed certified property values, heard that the proposed tax rate will be published Aug. 16 and said the district's tax rate remains unchanged even as the homestead exemption rose; the board consented to the preliminary budget framework that preserves planned raises and keeps the budget balanced with a small surplus.
Unidentified Speaker 2 presented the proposed tax-rate notice for publication Aug. 16 and said the district's tax rates "did not change this year," noting a larger homestead exemption is reducing locally collected revenue. He told trustees the certified value for the district is $38,000,106.49 and estimated a modest $119,000 surplus in a balanced preliminary budget.
The presenter said some revenue streams declined compared with last year in Coryell and Bell counties but that state funding is expected to offset much of the shortfall. He described discrete state allotments that increased revenue for teacher retention and salary supplements…
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