Preliminary totals show voters in the Florence Independent School District approved a ballot measure that will allow the district to raise a portion of its tax rate.
According to unofficial vote counts from precincts in Williamson and Lampasas counties, 525 voters approved a new maintenance and operations tax rate in the district of $1.17 per $100 of assessed property value.
At press time, Williamson County was still counting some of the votes.
According to the district, the new tax rate is expected to generate approximately $465,000 in additional revenue from the state.
While voters approved raising the M&O tax rate, the overall property tax rate will remain the same as the previous year.
According to the district website, FISD will offset the increase with a decrease in its debt service tax rate (called interest and sink) from 26 cents per $100 of assessed property value to 13 cents. That “tax swap” would allow the total tax rate to remain at $1.30, the same rate as last year.
Contact Chris McGuinness at firstname.lastname@example.org or (254) 501-7568. Follow him on Twitter at ChrismKDH.