Farmersville ISD residents will have the chance to give input on the district’s proposed budget and tax rate for the upcoming year.

A public meeting is scheduled for 5:30 p.m. Sunday, June 30, at Farmersville High School, at 499 Highway 78 North, to present the 2025-26 budget and discuss the proposed property tax rate.

The meeting will determine the tax rate needed to fund district operations and repay bonded debt. State law requires the district to hold a public hearing before adopting a tax rate, and if any rate above the proposed level is considered, a revised notice and additional hearing would be required.

The proposed total tax rate for the upcoming fiscal year is $1.2067 per $100 of assessed property value. This includes $0.7072 for maintenance and operations and $0.4995 for debt service. The rate reflects a decrease from last year’s total rate of $1.2394.

Despite the drop in the rate, taxes on the average residence are expected to increase due to rising property values. Last year, the average home had a taxable value of $207,541, resulting in a tax bill of $2,572.26. This year, with an average taxable value of $225,685, the estimated tax bill would rise to $2,723.34 — an increase of $151.08.

The proposed budget reflects significant increases in expenditures across categories. Maintenance and operations are set to rise by 11.36%, debt service by 29.18%, and total expenditures by 14.53% compared to the previous fiscal year.

The total appraised value of all property in the district has increased from $1.79 billion to $2.14 billion. Taxable property values have also climbed, from $1.36 billion to $1.54 billion. New property added to the tax rolls this year is valued at $102.3 million, up from $65 million last year.

Farmersville ISD’s bonded indebtedness stands at $128.8 million. Interest and sinking fund revenues, used to pay this debt, will be generated by the $0.4995 portion of the tax rate, which voters previously approved.

Under Texas law, the school tax burden on homeowners aged 65 and older, or their surviving spouses, cannot exceed the amount paid in the year the homeowner turned 65, regardless of changes in tax rate or property value.

The proposed tax rate of $1.2067 is also the district’s voter-approval rate. If the board adopts a rate higher than this, state law mandates an automatic election.

As of the end of the current fiscal year, Farmersville ISD estimates an unencumbered fund balance of $11.05 million in its maintenance and operations account and $2.83 million in its debt service fund.

The district encourages community members to attend the June 30 meeting and take part in the discussion. More information about property taxes and scheduled public hearings can be found through the property tax database at Texas.gov/PropertyTaxes.

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