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Mercedes ISD CFO reports 5.45% rise in certified property values, outlines tax-rate math
Summary
CFO Sylvia Garza told trustees Hidalgo County certified taxable value for Tax Year 2024 is $774,481,438 (a $40,046,490, or 5.45% increase over 2023) and reviewed TEA compression, Tier II pennies and disaster pennies that inform the district's M&O and I&S calculations.
At the Mercedes Independent School District special meeting, Chief Financial Officer Sylvia Garza presented the district's Certified Taxable Values for Tax Year 2024 and explained how those figures feed into state and local tax-rate calculations. "For the Tax Year 2024, the taxable value grand total is $774,481,438. This is an increase of $40,046,490 from the taxable values of 2023 of $734,434,948," Garza told trustees, noting a 5.45% growth in assessed value.
Garza walked the board through how TEA compression affects the maximum compressed rate (MCR) and how Tier II enrichment pennies and disaster pennies contribute to the maintenance and operations (M&O) rate. She stated the M&O components considered included the compressed rate set by TEA at $0.6169, Tier II enrichment pennies of $0.1400 and disaster pennies of $0.03 for a combined M&O rate example of $0.7869, with the interest and sinking (I&S) rate remaining at $0.34 for an illustrative total of $1.1269. Garza cautioned that some values (T2) are budgeting projections and the state-certified estimates are not final until state certification and that, all else equal, increasing property values tend to reduce state aid under TEA formulas.
The presentation also included an enrollment-history note; Garza described recent enrollment declines and said the information was provided for planning and budget context. No board action was taken on the enrollment information, which the CFO described as report-only.
