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Trustees of the Dripping Springs Independent School District voted Monday to set the district’s property tax rate for 2024 at $1.1052 per $100 in valuation.
In 2023, the tax rate was 1.1075. While the approved 2024 tax rate is lower than last year, the estimated taxable value of a home in the district is $578,156 compared to $558,247 in 2023.
For homeowners, that translates to an increase this year of about $207, or $17 per month on the average taxable home value in the district.
The rate set includes .7552 for maintenance and operations and .35 for servicing the bond debt and principal repayment.
In June, Trustees passed a $100.4 million dollar budget and a projected shortfall of nearly $2.8 million.
Computing what tax rate to set to cover the budget is a lengthy and complicated process made more challenging by formulas and rules set by the State. School funding continues to be the top issue for lawmakers when they return to Austin in 2025.
Trustee Rob McClelan praised the budget staff for keeping the rate as low as possible when other districts are asking their voters to increase their rates much higher.
“That is a very good result, I think, for our district, McClellan said. “I think y'all have done a very good job understanding the will of this board and how we want to make sure we're a financially strong district, but also understanding the burden on the taxpayers.”
Taxpayers can learn more about the district’s budget process by visiting the DSISD website at dsisdtx.us/o/ dsisd/page/budget.
In addition, the district invites citizens to learn more about how the district operates its budget process at its Taxpayer Tuesday meeting on October 8 at Dripping Springs elementary school. That meeting is specifically covering school finances in the district. To register for that meeting go to dsisdtx.us/page/ taxpayer-tuesdays.
