The Schertz-Cibolo-Universal City Independent School District Board of Trustees unanimously raised the tax rate slightly last month, up from the 2008 rate of $1.385 per $100 of assessed property value to $1.42.
That means for the average home valued at $162,360, the annual tax paid would be $2,093.
The average value of a home in the school district increased $328 from last year’s assessment, which translates into an average tax increase of $57 from 2008.
The tax rate represents a combination of $1.04 for maintenance and operation and $0.38 for interest and sinking, also known as the debt rate.
The interest and sinking rate is five cents lower than was projected in the 2006 bond program, but increased by three-and-a-half cents from last year in response to bond sales and ongoing construction projects.
“In a bond program you’ll see a little bit of a bubble and as property values increase and as those bonds are paid off (the tax rate will fall),” said George Ricks, the president of the school board.
Ricks said the 2006 bond has so far covered the replacement of an elementary school, a new elementary school, an intermediate school, a junior high, an expansion to the agriculture farm and air conditioning improvements and installations to school gyms in order to comply with new Texas Education Agency gym and athletic credit standards.
The board also approved a $105 million budget for the 2009-10 year, up 13 percent from the 2008-09 school year.
The budget increase comes partly from five percent growth in the district, which generates more tax revenue, and from a high attendance rate. Texas provides an increase in state funding for districts that meet or exceed attendance goals.
“We had a 96.5 percent attendance rate. We had a really great attendance rate last year,” said Peggy Jaskinia, director of finance for the district.
The next meeting of the SCUCISD school board will be on Thursday, Oct. 15 at 6 p.m. in the Board Room located at 1060 Elbel Rd., Schertz.
