• July 25, 2014

Killeen ISD accepts proposed budget, tax rate

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Posted: Wednesday, August 14, 2013 4:30 am

Members of the Killeen Independent School District’s Board of Trustees will vote on a final budget and tax rate for the 2014 fiscal year at the end of this month.

The seven-member board voted unanimously at its regular meeting Tuesday night to accept a proposed budget and tax rate, and set Aug. 29 as the date for a final vote to approve both items.

The proposed budget includes general fund revenue of more than $329 million for fiscal year 2014, an increase of roughly $8.7 million from the previous year. Some of that increase is due to an uptick in property values resulting in a 5.4 percent increase in property tax revenue.

“Our local revenue has gone up a little bit,” said Megan Bradley, the district’s chief financial officer.

The proposed budget also lists the district general fund expenses at more than $326 million, up $13.5 million from fiscal year 2013. The board also will vote on a tax rate for the upcoming year at its Aug. 29 meeting. The proposed tax rate for 2014 is $1.128 per $100 of assessed property value, slightly lower than the $1.131 adopted for fiscal year 2013. That proposed total rate includes a decrease in the debt service rate from 9.1 cents to 8.8 cents, leaving the maintenance and operations tax rate at $1.04.

Even though the rate is decreasing, the average homeowner will pay about $9 more in property taxes.

“That is due to the property values going up,” Bradley said.

In addition to setting a date to vote on the proposed budget and tax rate, the board also approved memorandums of understanding with Bell County for its Juvenile Justice Alternative Education Program, a memorandum of understanding with Central Texas College for dual-credit courses and a lease agreement for Community In Schools to operate at East Ward Elementary School.

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