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ALDINE ISD increases tax rate

ALDINE– During a special called meeting on Oct. 2, the Aldine ISD Board of Education approved the 2003-04 tax rate at $1.668 ($1.57 or the maintenance and operation fund and $0.098 for the interest and sinking fund) per $100 valuation.
The new rate represents a 5-cent increase from the 2002-03 tax rate. The increase was needed to help the district recover funding that it has lost from the state of Texas and to continue providing a quality education for Aldine ISD students.
State funding is based on property values and Aldine ISD’s has increased $9 billion. As property values go up, Aldine ISD receives less money per student from the state.
This year, state revenues are projected to be $65 less for each student from the per-student average of $4,029 from last year, which would create a deficit of about $3.5 million for AISD.
District officials said $.038 of the tax rate increase will go to cover the projected loss in state funds. The district’s tax rate remains the second lowest in Harris County.
Homeowners will face a minimal increase on their property taxes. For example, the owner of an $80,000 home will pay about $32 more in taxes than they paid last year. Homeowners with the $15,000 Homestead Exemption (which must be applied for through the Harris County Appraisal District) will see less than a 3-percent tax increase and homeowners 65 and over whose rates are frozen will pay no increase.
The tax rate will help fund the district’s 2003-04 school year budget of $358,964,878, which was approved by the school board earlier this year. The budget is $18.3 million lower than the 2002-03 budget.