LISD Board Approves Tax Rate Decrease

LISD Board Approves 2020 Tax Rate Decrease
Posted on 08/24/2020
District News Release

AUGUST 24, 2020

LISD Board approves 2020 Tax Rate Decrease

In a 6 - 0 vote at the regular Board meeting Monday evening, the Lockhart Independent School District’s Board of Trustees approved the 2020 total tax rate of $1.1671 per $100, a decrease of 9.526 cents from last year’s rate of $1.2636.

Last year, the district approved a  7 cent decrease from the 2018 tax rate of $1.3325 to $1.2636 in 2019. With another year of property value increases, it provided for an additional 9.526 cents decrease to the newly approved rate of $1.1671. Of that savings, 6 cents comes from a decrease in the Maintenance & Operations Rate, and 3.5 cents comes from a decrease in the Interest and Sinking Rate. 

Although the Board approved a tax rate decrease, the average property owner will still see a 3.097 percent increase in their overall school tax rate because of rising property values.

LISD’s 2020 tax rate is lower than neighboring San Marcos CISD’s rate of $1.189 per $100 and Hays CISD’s rate of $1.4037 per $100.

“We are grateful for the opportunity to reduce the tax rates as property values continue to rise,” said Superintendent Mark Estrada. “Because the Legislature committed state funding to offset the difference during this biennium, it has provided tax payers welcome relief while also providing the needed funding for school districts.” 

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