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Tom Bean ISD adopts 2024–25 budget and sets combined tax rate at $0.9239 per $100
Summary
Trustees adopted the 2024–25 budget and set the maintenance & operations rate at $0.7552 and interest & sinking at $0.1687 per $100 valuation, yielding a total rate of $0.9239 for tax year 2024–25; the board recorded that the M&O rate will not raise more M&O taxes than last year.
The Tom Bean Independent School District Board of Trustees adopted the 2024–25 fiscal year budget and set the district's property tax rates during the special meeting on Aug. 26, 2024.
Following a public hearing on the proposed 2024–25 budget, Trustee Shawna Merriman moved to adopt the budget as presented by Superintendent Steve Goodman; Trustee Beth Hale seconded and the motion carried 7–0. On separate motions, the board set the Maintenance & Operations (M&O) tax rate at $0.7552 per $100 valuation and the Interest & Sinking (I&S) tax rate at $0.1687 per $100 valuation. The combined rate for tax year 2024–25 is recorded as $0.9239 per $100 valuation.
The minutes state that "THIS TAX RATE WILL NOT RAISE MORE TAXES FOR MAINTENANCE AND OPERATIONS THAN LAST YEAR'S MAINTENANCE AND OPERATIONS TAX RATE OF $0.7575," reflecting the board's statement on the tax rate's impact relative to the prior year. The minutes do not include a detailed revenue forecast or a tax roll impact chart in this record; the superintendent presented the budget at the hearing but the written materials are not appended to the minutes provided here.
The board set the next regular meeting for Monday, Sept. 9, 2024, and adjourned at 8:07 p.m.
