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Lake Travis ISD board adopts 2024 tax rate of $1.0656, approves 2024–25 budgets
Summary
The Lake Travis ISD Board of Trustees adopted a total 2024 tax rate of $1.0656 and approved the district's 2024–25 proposed budgets for operating, debt service and food service. The board also approved a 2023–24 general fund amendment and set aside $244,250 for accelerated instruction under HB 5.
The Lake Travis Independent School District Board of Trustees adopted Tax Rate Resolution No. 082124-01 on Aug. 21, 2024, setting the 2024 total tax rate at $1.0656 per $100 of assessed valuation (maintenance & operations $0.7381; debt service $0.3275). Trustees recorded a 5–0 vote to adopt the rate.
Pam Sanchez, Assistant Superintendent of Business Services, presented the proposed 2024–25 budgets and financial reports. The board approved the Proposed Budgets for the General Operating Fund, Debt Service Fund and Food Service Fund for the 2024–25 fiscal year and also approved a 2023–24 general fund budget amendment to reflect increases in state program revenue, end-of-year adjustments and a higher recapture payment. The amendment and the budgets were each approved on recorded 5–0 votes.
To comply with HB 5 requirements for accelerated instruction after unsatisfactory state assessments, the board approved segregating $244,250 of state compensatory education funds to support summer school, accelerated learning, EOC review sessions and instructional resources. The motion to set aside the funds passed 5–0.
The board's materials cite the district's maximum compressed M&O rate at $0.6581 and the Travis County-calculated no-new-revenue and voter-approval rates; the adopted total tax rate of $1.0656 is lower than the 2023 total of $1.0741. The district will publish adopted tax-rate materials as required by state law and proceed with implementation of the adopted budgets.
Next steps: the district will file the official tax-rate resolution with the county tax office and finalize the annual budget documents for public posting.
