Gonzales ISD approves new tax rate for 2024-25 school year

The Gonzales ISD Board of Trustees met for a special called meeting Monday, Aug. 26 at the GISD administration building.

The main topic of the meeting was the 2024-25 tax rate and budget for the school district, both of which the board approved Monday night.

This year, the tax rate went up 3.87 cents for a total of 86.34 cents; last year it was at 82.47 cents.

Amanda Smith, GISD chief financial officer, said during the 2023 bond election that the tax rate would go up eight cents if Proposition A, a $50.6 million bond package, was passed.

“Indeed, the rate did not increase the full eight cents because of property value growth, but the majority of that growth was in the minerals category, not residential,” Smith added.

The board adopted a maintenance and operations tax rate of 73.08 cents per $100 valuation and a debt service rate of 13.26 cents, which is still expected to generate $11,417 in local revenue per student compared to the state contribution of $1,831 per student.

Last year, the district had a maintenance and operations tax rate of 73.31 cents per $100 valuation and a debt service rate of 9.16 cents as the district had a total taxable value of nearly $2.73 billion. Property values for the district increased to nearly $3.18 billion this current tax year.

The average market value of residences in the district improved from $171,018 to $179,590. The average taxable value of a residence is expected to be about $85,447, up from $60,835 last year, which will lead to anticipated taxes due on an average house going from $501.71 to $737.75, an increase of about $236.04, which averages out to $19.67 per month more.

The board adopted a general fund budget that has anticipated expenditures of $34,736,449 against expenditures of $30,408,065, which will require the use of $4,328,384 in fund balance and $500 transferred in from the food service fund. The food service fund calls for against $2,108,134 in expenditures against $2,107,634 in revenues, including a $500 transfer out to the general fund.

Finally, debt service fund calls for expenditures and revenues of $4,281,857 each.

In other business, the board approved the following agenda items:

--approved the creation of a special finance committee.

--approved the TASB Endorsement Form.

--approved the budget amendments.