Alvin ISD board approves lowered tax rate for fiscal year 2023-24

ALVIN, Texas -- For the second year in a row, Alvin ISD will have a lowered tax rate.

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The overview

Alvin ISD's board of trustees at its Sept. 12 meeting approved a new tax rate for fiscal year 2023-24 at $1.1923 per $100 valuation of a home, according to district documents.

This total is $0.1854 lower than last year's rate, which officials expect to lead to a "sizable reduction" in residents' tax bills, Associate Superintendent Daniel Combs said in an email on Sept. 13.

For comparison, a home valued at $286,730 in 2022 that has an assessed value of $315,403 in 2023 will see its tax bill reduced by $831, Combs said in an email.

Alvin ISD tax rate

AISD's tax rate in June was projected at $1.2977 - down by $0.08 from last year - but due to recent state legislation, it is now being compressed further.

Meanwhile, the area's home values have gone up by more than 32% compared to last year, officials said in June.

What else?

AISD officials in June adopted the district's FY 2023-24 budget, which increased by $20 million from last year, according to district documents.

About $3 million of its budget is based on an anticipated increase of about $90 in the state's annual student allotment of $6,160, Combs said in June.

That has not happened yet, and in June, Combs said that money could be the difference between the district addressing facility upgrades and maintenance he called "critical."

This article comes from our ABC13 partners at Community Impact Newspapers.