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NOTICE OF PUBLIC
MEETING TO DISCUSS BUDGET AND
PROPOSED TAX RATE The room located at 259 Country Club Rd., Allen, Texas 75002. The purpose of this meeting is to discuss the school district's budget that will determine the tax rate that will be adopted. Public participation in the discussion is invited. The tax rate that is
ultimately adopted at this meeting or at a separate meeting at a later
date may not exceed the proposed rate shown below unless the district
publishes a revised notice containing the same information and comparisons
set out below and holds another public meeting to discuss the revised
notice. -------------------------------------------------------------------------------- Comparison
of Proposed Rates with Last Year's Rates Maintenance & Operations Sinking Fund* Total Per Student Per Student Last Year's Rate
$ 1.450000 $
0.150000 $ 1.600000
$ 12,302
$ 338 Rate to Maintain Same
$ 1.550000 $ 0.203200 $ 1.753200 $ 12,690
$ 270 Level of Maintenance
& Operations Revenue
& Pay Debt Service Proposed Rate $1.500000
$0.203000
$1.703000
$12,185
$270 * The Interest &
Sinking Fund tax revenue is used to pay for bonded indebtedness on construction.
equipment, or both. The bonds, and the tax rate necessary to
pay those bonds, were approved by the voters of this district. ---------------------------------------------------------------------------- Comparison of Proposed Levy with Last
Year's Levy on Average Residence Last Year This
Year Average Market Value of Residences
$ 292,800 $ 298,502 Average Taxable Value of Residences
$ 248,520 $ 253,652 Last Year's Rate Versus
Proposed Rate per $100 Value $ 1.600000
$ 1.703000 Taxes Due on Average Residence
$ 3,976.32 $ 4,319.69 Increase (Decrease) in Taxes $ 343.37 Under state law, the dollar amount of school taxes imposed
on the residence homestead of a person 65 years of age or older or of
the surviving spouse of such a person, if the surviving spouse was 55
years of age or older when the person died, may not be increased above
the amount paid in the first year after the person turned 65, regardless
of changes in tax rate or property value. -------------------------------------------------------------------------- Notice of
Rollback Rate: The highest tax rate the district can adopt before requiring
voter approval at an election is $1.862854. This election will be automatically
held if the district adopts a rate in excess of the rollback rate of
$1.862854. -------------------------------------------------------------------------- Fund Balances The following estimated balances will remain at
the end of the current fiscal year and are not encumbered with or by
a corresponding debt obligation, less estimated
funds necessary for operating the district before receipt of the first
state aid payment: Maintenance and Operations Fund Balance(s) $6,527,590 Interest & Sinking Fund Balance(s) $157,818 |