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Lake Dallas ISD board authorizes publication of proposed $1.2552 tax rate and schedules public hearing
Summary
Lake Dallas ISD trustees authorized publishing a proposed tax rate not to exceed $1.2552 and scheduled a Truth in Taxation public meeting for Aug. 26, 2024; the district reported a General Fund deficit of $357,440 and a Child Nutrition Fund deficit of $480,192.
Lake Dallas Independent School District trustees on Aug. 12 authorized the publication of a proposed tax rate not to exceed $1.2552 and set a public hearing on the budget and tax rate for Aug. 26, 2024.
Wes Eversole, deputy superintendent, presented the budget update and Truth in Taxation requirements, saying the district must publish the notice in a daily paper and follow statutory timing. The district reported a General Fund shortfall of $357,440 and a Child Nutrition Fund deficit of $480,192, which includes a one‑time $432,307 expenditure for new serving lines planned for installation in September. Eversole also noted a recommendation to prepay $5,085,000 of existing bonds, which the district's financial advisor, Josh McLaughlin, estimates would reduce future interest costs by about $1,009,351.
The board voted to "authorize the publishing of the proposed tax rate not to exceed $1.2552 and the Notice of Public Meeting to Discuss the Budget and Tax Rate for the 2024-25 school year," a motion moved by Bruce Smith and seconded by Greg Bartley. The motion passed 7‑0.
The district indicated it will publish the notice in the Denton Record‑Chronicle and prepare Truth in Taxation documents as required by Texas Education Code 44.004. The Aug. 26 hearing will allow public comment and final action on an adopted rate, should the board decide to move forward after required notice and hearings.
