Lampasas ISD Trustees met on Monday evening in a special session and held the 2016-17 Budget Hearing and Tax Rate Hearing. The school system’s $35 million-plus budget for 2016-17 is up $1.1 million from the 2015-16 budget (3.91% increase in the general fund budget).
About half of that budget is supported by State and Federal Funding and most of it goes into personnel.
Of that $35 million-plus budget, local taxpayers are now expected to fund $15. 69 million of the total. Last year taxpayers coughed up $12.3 million.
Because the property values in the district have increased by some 3.6%, the school can keep the same tax rate and get an effective increase in tax income. So… your property tax rate will remain the same for the new year, but depending on how the appraisal value of your property might have changed, your tax bill could be higher. According to an averaging process, the local appraisal district calculation is that an average residence school tax bill of $1,275.99 last year would likely increase to $1,298.17 for this new year.
In other matters at the Monday meeting some investment strategies were reviewed and vendors approved. The board also agreed to purchase a house at 205 W. 9th St. The reasoning appears to be that it was available and that it joins other school property.