Tax Impact
Regardless of the outcome of this election, the overall tax rate will decrease and the tax bill for the average AISD homeowner will also decrease.
Since 2019, the Abilene ISD tax rate has decreased by 33 cents per $100 of taxable value. Although the local School Board sets the tax rate, the Texas Education Agency sets certain limitations on tax rates, like the maximum compressed M&O tax rate and requirements for voter approval for rates exceeding certain thresholds.
The VATRE would result in $10 million more in local and state funding every year to address local district costs and the deficit budget. That amount includes $3.7 million in local funding, which voters will be asked to approve on the ballot, and $6.3 million in state funding.
With the additional $40,000 Homestead Exemption on the November ballot, the average taxable home value in Abilene ISD will be $73,214.
Tax Breakdown with and without the VATRE Election:
If the VATRE is approved,
the tax rate will be set at $0.9580 per $100 valuation.
If the VATRE is rejected,
the tax rate will be set at $0.8980 per $100 valuation.
Regardless of the outcome of this election, the overall tax rate will decrease and the tax bill for the average AISD homeowner will also decrease.
The breakdown for school taxes on the average Abilene ISD property:
$552.51 (FOR), and $517.90 (AGAINST) for a difference of $34.60 a year.
This represents $2.88 more a month for the average taxpayer.
VATRE money stays local and is made available to AISD every year.