BCISD sets tax rate, budget for 2016-2017
Tommy Mann Jr.
For The Record
The Bridge City Independent School District has set its budget and tax rate for the new school year.
The Bridge City Independent School District’s Board of Trustees officially approved the district’s new budget and ad valorem tax rate for the 2016-2017 school during a meeting this past Monday, following a public hearing.
The Trustees unanimously approved the new ad valorem tax rate of $1.18 per $100 valuation on Monday. The new tax rate is a decrease of one-cent compared to the previous tax rate of $1.19 per $100 valuation from the 2015-2016 school year.
This total tax rate consists of $1.04 for the Interest and Sinking Fund and $0.14 for the Maintenance and Operation Fund.
Based on a home valued at approximately $100,000, the taxes would be $1,180 which is a decrease of approximately $10. However, if the value of the property increased this past year, then the taxes could actually increase.
The Board of Trustees also adopted a balanced budget of $24,127,754 for the 2016-2017 school year, which is a 2.83 percent increase compared to the previous school year’s budget.
A contributing factor to the budget increase is the district now has $1,042,201,480 in certified taxable property value, which is 4.16 percent more than it had previously.
The largest portion of the budget, as it is for any school district, will be obligated for payroll. This year’s payroll includes an increase of approximately $423,000 and the overall payroll expenditures represents slightly more than 78 percent of the new budget.
Roberta Overstreet, the business manager of Bridge City ISD, stated the district was able to lower its ad valorem tax rate as the district is expected to collect more taxes because of an increase in property values.