Wednesday, August 10, 2022

Denton ISD approves budget, proposes tax rate decrease

At the most recent Denton ISD board meeting, trustees approved a $315.4 million operating budget for the 2022-23 school year and proposed a decrease to the overall tax rate for fourth straight year.

The proposed combined tax rate of $1.3446 per $100 assessed valuation will go to the board for approval in September, according to a district news release. The rate had held steady at $1.54 from 2014-18 before annual decreases began. The current rate is $1.362. The proposed rate translates to $0.48 for debt service or the repayment of bonds and $0.8646 for maintenance and operations or the daily expenses and salaries.

Denton ISD continues to see strong appraisal growth with more than $23.5 billion in appraised value projected for 2022, a $2.7 billion increase over the prior year with more than $1.4 billion in new property added to the appraisal roll, as assessed by the Denton Central Appraisal District. To address student population growth, the board is working to add and retain staff. At the first board meeting in June, trustees approved a 3% of the mid-point pay increase for all employees and an equity adjustment plan for those employees whose current salary is below the market median. The starting salary for first-year teachers joining Denton ISD has been increased to $58,000, a competitive rate across the region and state.

“We have been prudent and careful in our budgeting process for years, we have developed a pattern,” said Dr. Jim Alexander, trustee. “Because of having done that through the years, we are in a position now to do a 3% raise for our teachers and our staff and feel confident that we can afford it and to look forward to a healthy budget over the next two or three years. Our district continues to benefit from being fiscally prudent through the years and making good decisions. I am very grateful to our accounting and budgeting staff to help guide us through this process. It’s worked very well.”

Mark Smith
Mark Smith is the Digital Editor of The Cross Timbers Gazette.

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