Sheldon ISD school board approves budget for 2019-20, lowers overall tax rate by more than 2 cents

Sheldon ISD Superintendent King Davis said he was very pleased to be able to share this good news with the district’s local taxpayers.

“I applaud our chief financial officer for creating a budget that not only provided tax relief for our taxpayers, but also for addressing our general operating fund, employee salary increases, and continuing to sustain a healthy fund balance,” Davis said.

Board members approved an overall budget of $94.7 million for 2019-20 – which was about 9 percent higher than last school year. However, Sheldon ISD Chief Financial Officer Abraham George said last year’s budget was based on 10 months (because of the financial year change), and the 2019-20 budget is based on 12 months.

Tax Rate Comparisons: 2018-2019 to 2019-2020

(based on per $100 value)

 

2018-2019 School Year

2019-2020 School Year

Interest & Sinking

0.30

0.3800

Maintenance & Operations

1.17

1.0684

Totals

1.47

1.4484

One penny generates approximately $560,000 for Sheldon ISD.

George also mentioned that even though there was an 8-cent increase in the district’s debt services (interest and sinking), the maintenance and operations rate decreased from last year because of the state’s compression as a result of House Bill 3.

“Our board members are really great stewards of our taxpayer dollars,” Davis added, “which is indicative of this overall tax rate reduction for 2019-2020.”

 

Scenario 1
Sheldon ISD 2018 and 2019 Tax Comparisons Based on Harris County Appraisal District Values

 

2018 Tax Year



2019 Tax Year



2019 Tax Year

(assuming no change in market value of residence)

Average Market Value of Residence*

$107,889.00

$125,718.00

$107,889.00

Average Taxable Value of Residence*

$77,220.00

$87,230.00

$77,220.00

Tax Rate

$1.47

$1.4484

$1.4484

Tax on Average Residence

$1,135.00

$1,263.00

$1,118.00

Change in Total School Tax – Increase (Decrease)

--

$128.00

($17.00)

* - Average values came from Harris County Appraisal District

 

 

 

 

 

Scenario 2
Sheldon ISD 2018 and 2019 Tax Comparisons for a Homestead Valued at $100,000

 

2018 Tax Year



2019 Tax Year

(assuming no change in market value of residence)

Average Market Value of Residence*

$100,000.00

$100,000.00

Average Taxable Value of Residence*

$55,000.00

$55,000.00

Tax Rate

$1.47

$1.4484

Tax on Average Residence

$809.00

$797.00

Change in Total School Tax – Increase (Decrease)

--

($12.00)

 

 

Scenario 3
Sheldon ISD 2018 and 2019 Tax Comparisons for a Homestead Valued at $150,000

 

2018 Tax Year



2019 Tax Year

(assuming no change in market value of residence)

Average Market Value of Residence*

$150,000

$150,000

Average Taxable Value of Residence*

$95,000.00

$95,000.00

Tax Rate

$1.47

$1.4484

Tax on Average Residence

$1,397.00

$1,376.00

Change in Total School Tax – Increase (Decrease)

--

($21.00)