NISD trustees approve tax rate

Posted Tuesday, Sep. 03, 2013  comments  Print Reprints
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The rapid growth in the Northwest school district has come with a price – higher tax bills for many of the 234-square-mile district’s homeowners.

But it’s a price voters already have shown they were willing to pay.

Northwest Trustees at their Aug. 26 regular meeting approved a 2013-14 tax rate of $1.4525 per $100 of assessed property value. That tax rate will help fund a $152 million general fund budget trustees approved in June.

The new tax rate is 7.75 cents higher than the tax rate for the 2012-13 school year – an increase of nearly 6 percent. The maintenance and operations rate remained steady at $1.04 while the interest and sinking rate increased from $0.3350 to $0.4125.

The result of the tax-rate increase is a slightly higher tax bill for the owner of an average home in the district. For a homeowner with a house valued at $175,000 and a gain in value of $5,000, the tax bill would increase approximately $205 to about $2,542. .

The new tax rate has the exact level of increase district officials told voters would be necessary when a $255 million bond program was approved in November. The bond funds will allow for the building of a new high school and middle school and for the upgrading of other facilities and programs to handle growth over the next few years.

Northwest, one of the state’s fastest-growing districts, has grown by nearly 1,400 students since last school year and now has an enrollment of more than 19,000.

“The need to increase the I&S tax rate was discussed extensively during the 2013 bond election,” Jon Graswich, Northwest’s chief financial officer, said in an email. “Property growth has slowed significantly from past years when new bonds could be supported by growth in the tax base without an increase in the tax rate.”

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