At the August 21, 2023, Belton ISD Board of Trustees Meeting the 2023-2024 budget and tax rate were approved. The Board adopted a $5 million deficit budget and a voter approval tax rate. This approval includes:
$.7575 for Maintenance & Operations
$.3942 for Debt Service
This is a total tax rate of $1.1517.
This is an 18.54 decrease from the previous year’s tax rate of $1.3371.
In accordance with state law, districts cannot adopt a tax rate that exceeds its voter approval tax rate without getting voter approval.
As property taxes in Central Texas continue to climb, the district’s tax collections continue to increase. The Texas Legislature made significant strides in the second special session to ease the tax burden on property owners. The district applauded and highlighted the State’s action of further tax rate compression and increase to the homestead exemption on Monday night. The continued increase in collections is slowing, resulting in the State paying a larger portion of the district’s formula funding that comprises both tax collections and state funds.
The Board of Trustees made the decision to adopt the 18.54 cent decreased tax rate in support of taxpayer relief. Belton ISD and along with most of the districts, across the state, are experiencing deficit budgets. Many districts are calling for elections to increase their tax rates as operating costs continue to rise.
The Belton ISD Board of Trustees is committed to the taxpayers of Belton ISD and continues to look for efficiencies in their budget and manage taxpayer dollars responsibly for their taxpayers.