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EPISD Board of Trustees adopt tax rate for 2021-22

 

tax rate

(El Paso Independent School District -- Aug. 19, 2021) –– The El Paso Independent School District Board of Trustees this week adopted the tax rate for the 2021-22 fiscal year that will be used to fund student programming and other District expenses outlined on the balanced budget EPISD adopted earlier this summer.

The Board adopted a tax rate of $1.3542 per $100 valuation – an increase of 3.585 cents from last year’s approved tax rate.

EPISD’s Maintenance & Operation tax rate — the portion of the formula that pays for day-to-day operations such as salaries, supplies and student programming — decreased by 3.05 cents to $1.0517 this year. However, the Interest & Sinking side of the rate – the portion that pays for debt – increased by 3.89 cents to $0.3025.

The increase reflects two factors in the debt issuance for the District: the repayment of the 2016 Bond voters approved for the modernization of the District; and the reduction in state funding for debt-related programs to help property-poor school districts offset the cost of capital improvements.

The rate also reflects a half-point decrease in overall certified valuations in the District from 2020 to 2021.

The change in the tax rate means the average EPISD home valued at $162,667 will see an increase in school taxes of $11.73 per month during the 2021-22 fiscal year.

School Board members asked the District to provide quarterly reports of opportunities for cost savings throughout the District. In May, the Board approved a $512.8-million balanced budget that takes into consideration funding challenges caused by decreased enrollment and the impact of the pandemic by creating additional savings throughout the organization.

The budget included a 1 percent salary increase from midpoint for all employees and two retention stipends for all permanent employees of the District.