LISD says it had to cut staff raises and free school supplies from the 2023-24 budget after funding gaps from the State of Texas left a $710,000 deficit.
The district says it and nearly 150 other school districts – mainly in rural areas – are facing unprecedented levels of underfunding from the State of Texas this year. School districts are funded first through local property taxes, and the remainder is provided by the state. The Texas Education Agency calculates a district’s state funding by estimating how much tax revenue the district should collect based on local property values.
This year, however, Lockhart ISD says county property appraisals haven’t kept up with the Texas Comptroller’s rising property value estimates, leading to a $3.1 million loss in state funding. If November’s VATRE is approved, the district will have decreased its overall school tax rate by 38 cents since 2018., which would also lower school property tax bills for Texans by increasing the homestead exemption from $40K to $100K.that I have read and agree
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