Irving ISD is reducing its tax rate by 3 cents for the 2020-2021 fiscal year.
At the district’s regularly scheduled board meeting on Monday, the Board of Trustees approved decreasing the tax rate from $1.3051 to $1.2751 per $100 of taxable value.
The maintenance and operations portion of the tax rate – used to fund the part of the budget that pays for expenditures such as teacher salaries – is 1.0148, or a 1.6-cent decrease.
On the interest and sinking, or debt service, side, the proposed tax rate of .2603 represents a nearly 1.4-cent reduction from the current rate.
Fortunately, the opportunity to reduce the tax rate comes in an attempt to offer relief to taxpayers, who are seeing higher appraisals on their property values.
“Irving ISD works diligently to be financially prudent with our taxpayer dollars,” says Chief Financial Officer Gary Micinski. “The amount of revenue budgeted in the general fund is essentially the same as last year’s budget. We are very pleased to be able to lower our tax rate by 3 cents for our Irving community.”