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SISD adopts 2025 tax rate at 0.9389 per $100, below 'no new revenue' rate
Summary
CFO David Solis reported quarterly finances and recommended adoption of the voter‑approval tax rate of 0.9389 per $100 (0.6689 M&O and 0.27 I&S); the board adopted the resolution after a legal consultation and brief executive session on debt service implications.
The Socorro ISD Board on Nov. 19 adopted a tax rate for calendar year 2025 of 0.9389 per $100 of property value, a rate administration described as the voter‑approval tax rate and lower than the calculated 'no new revenue' rate.
Chief Financial Officer David Solis said the 0.9389 rate consists of 0.6689 for maintenance and operations (which includes the state compress rate and five 'enrichment pennies') and 0.27 for interest and sinking to pay principal and interest on outstanding debt. Solis said the district will use about $5 million from the debt service fund balance to meet this year’s debt payment and that the proposed rate is below the district’s no‑new‑revenue threshold.
Trustees debated whether approving the voter‑approval rate now would limit options for a future voter‑approved tax measure and requested legal counsel and bond advisers to brief them in closed session on the risks. After the executive session the board adopted the resolution by roll call.
In related financial reporting, Solis presented the quarterly investment and cash flow update for the period ending Sept. 30, 2025, noting temporary timing differences in receipts and that cash spikes typically occur Dec.–Feb. when property tax collections arrive. He reiterated the district’s goal to improve unassigned fund balance and reduce reliance on short‑term loans.
