• November 29, 2014

Voters OK ‘tax swap’ for Florence district

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Posted: Wednesday, November 7, 2012 4:30 am

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.

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