The new combined tax rate will be $1.3473 per $100 valuation.
The rate is an $0.0098 increase from the 2019-20 rate. The maintenance and operations portion, now managed by House Bill 3, will be reduced by $0.0036.
HB 3, which was passed by the Texas Legislature in 2019, includes a 2.5% cap on year-to-year local revenue growth. The interest and sinking rate will increase $0.0134 over the previous year.
Trustees approved the district’s 2020-21 budget last month. Since LISD is a property wealthy district, approximately $32 million will be sent back to the state in ‘Robin Hood’ payments.
The district’s tax rate history and other financial information can be found at LISD.net/ft.