Proposal
Trustees eye tax rate 10% below last year
BY MARY JUDSON

SOUTH JETTY EDITOR

Taxpayers in the Port Aransas Independent School District may not see any relief on their bottom line in spite of a proposed tax rate that is about 15.5 cents, or 10 percent, lower than last year's rate.

The Board of Trustees met Monday, Aug. 14, and proposed a tax rate of $1.394582, down from last year's rate of $1.55.

Six cents of the proposed rate is for the interest and sinking fund, which is 3 cents lower than last year's I&S rate, according to Superintendent Billy Wiggins. The funds generated are used to make the district's bond payment. The district has a bonded indebtedness of $9,544,765.

The maintenance and operating portion of the tax rate is $1.334582, the maximum allowable under state law.

Last year, the district's tax rate was based on total property valuations of $972,697,323.

This year's total property value is at $1,371,899,315. Wiggins said about $30 million of that figure is under appeal, so trustees are basing the tax rate and budget on a total value of approximately $1,350,000,000.

Proposed expenditures for the 200607 school year are 25.72 percent over last year.

Last year, the average market value of a home in the PAISD was $158,054. That figure rose to $201,623 this year. After exemptions, the taxable value of that home last year was $147,436 and this year is $184,265. The taxes due on that home last year amounted to $2,285.26, and this year's tax bill will be $2,569.73, an increase of $284.47.

Changes in school finance mandated by the state legislature had little effect in Port Aransas where 70 cents of every dollar is still sent out of the district as part of the state's effort to equalize funding among schools under what is called the Robin Hood plan. The plan requires property wealthy school districts such as Port Aransas to share tax revenues with property poor school districts.

A hearing on the proposed tax rate and budget will be held Thursday,

Aug. 31. After the hearings, the board will consider approving both. done here
                    05-06         06-07
PROPERTY VALUES
  $972,697,323     $1,371,899,315
TAX RATE
                      $1.55     $1.394582
AVERAGE
              HOME
                $158,054       $201,623
TAXES DUE
                    $2,285     $2,569.73
            PAISD
  AT
                A   GLANCE