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District explains debt-service levy and average homeowner impact
Summary
CFO William Wooten told the board the proposed interest-and-sinking tax rate is $0.50 per $100 valuation and described how tax ceiling and compression will affect average homeowner bills.
Wooten explained the debt-service fund pays long-term debt principal and interest and that the district is proposing an interest-and-sinking (I&S) tax rate of $0.50 per $100 valuation, similar to last year. He noted the district's current Moody's bond rating is "upper medium."
On homeowner impact Wooten illustrated that because of property-value growth and compression rules the average taxpayer could see an estimated $46 increase on their bill under certain model assumptions, though he emphasized certified values and TEA calculations could change the final figure.
