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Laredo ISD presents 2024–25 budget overview and proposes 1.2197 tax rate
Summary
At a June 20 public hearing, Laredo ISD officials reported rising property values and proposed a 1.2197 tax rate — the highest rate the district can adopt without triggering an election — while stressing the rate may change after final certified values and compression calculations.
Unidentified presenter for Laredo Independent School District outlined key figures from the proposed 2024–25 budget at a public hearing on June 20.
The presenter said total expenditures increased 4.79 percent and that the district’s total appraised value rose from $5.3 billion to $5.9 billion. New property appraisals were reported to increase from about $50.7 million to $58.8 million, and total taxable value rose from $2.8 billion to $3.2 billion. The district’s outstanding bond principal was listed as $233,200,000.
On tax rates, the presenter said last year’s rate was 1.2118. The rate calculated to maintain the same level of maintenance-and-operations revenue plus required debt service was 1.2038, and the proposed rate was 1.2197. The presenter cautioned that the proposed rate is not final and that the district was awaiting final certified property values and a “maximum compressed rate” calculation that could change the adopted rate.
Using the proposed 1.2197 figure, the presenter calculated an illustrative increase of $59.75 on the typical residential tax bill (as presented during the hearing). The presenter also noted estimated end-of-year balances for maintenance-and-operations ($102.5 million, as presented) and the interest and sinking fund ($28.8 million).
The board offered trustees the opportunity for public comment; none were recorded. Doctor Rios adjourned the public hearing portion and directed staff to publish additional information and links (the presenter referenced texas.gov/forwardpropertytaxes for more details). The district said it will publish final certified values and updated compression calculations before the board adopts a final tax rate.
Next steps: staff will receive and distribute final certified values and the district’s compression calculation and return to the board for formal adoption of the rate once numbers are final.
