Farmersville Independent School District will hold a public meeting June 29 to discuss its proposed budget and tax rate for the upcoming fiscal year.
The meeting is scheduled for 5:30 p.m. at Farmersville High School, 499 U.S. Highway 78 North. District officials will review the proposed budget that will help determine the tax rate to be adopted for the 2026-27 fiscal year. Members of the public are invited to participate in the discussion.
The district has proposed a maintenance and operations tax rate of $0.7308 per $100 of taxable value and a debt service tax rate of $0.4995 per $100 valuation. The combined proposed tax rate is $1.2303 per $100 valuation, compared with last year’s total rate of $1.215.
According to budget documents, total expenditures are projected to increase 3.08% from the previous fiscal year. Maintenance and operations spending is expected to rise 2.46%, while debt service expenditures are projected to increase 5.90%.
The district reported a current-year total appraised property value of approximately $2.23 billion, up from about $2.11 billion during the preceding tax year. Total taxable value is estimated at $1.47 billion, compared with approximately $1.44 billion last year.
Farmersville ISD reported outstanding bonded indebtedness of $126.55 million.
Under the proposed tax rate, taxes on the average residence are expected to decrease slightly despite the higher tax rate. The average taxable value of a residence is projected at $185,561, compared with $189,090 last year. Taxes due on the average residence are estimated at $2,282.96, a decrease of $14.48 from the previous year.
District officials noted that state law limits increases in school taxes for qualifying homeowners age 65 and older and certain surviving spouses through the homestead tax ceiling.
The district’s voter-approval tax rate is $1.244429 per $100 valuation. Under Texas law, an election would be automatically required if the district adopts a tax rate above that threshold.
At the end of the current fiscal year, Farmersville ISD estimates unencumbered fund balances of approximately $10.55 million in its maintenance and operations fund and $3.35 million in its interest and sinking fund.
Please see the required notice on Page 2A of the June 18 edition.
Additional information regarding proposed tax rates and local property taxes is available through the Texas property tax database maintained by the state.
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