AISD demos

Correction on Monday, June 13 at 1:44 p.m.: An earlier version of this story said that Allen ISD would vote for the budget and tax rate on June 20. That meeting will only include action on the budget; the board will consider a district-wide ad valorem tax rate in an Aug. 22 meeting. We regret the error. 

Allen ISD is in the early stages of plotting its 2022-23 budget and tax rate. While the precise revenues, expenditures and tax rates have not yet been formally considered by the Allen ISD Board of Trustees, preliminary projections were discussed by the board in a Monday workshop session. 

According to Allen ISD Chief Financial Officer Brian Carter's presentation, the district is tentatively expecting total general fund revenue for the 2022-23 fiscal year to reach $209 million against $214 million expenditures, which would result to a $5 million deficit.

Moreover, the district is anticipating a maintenance and operation (M&O) tax rate of $0.9303 per $100 valuation, and an interest and sinking (I&S) tax rate of $0.39 per $100 valuation, leading to a total ad valorem property tax rate of $1.3203 per $100 valuation.

This would signify a rate decrease compared to the 2021-22 projected budget, which outlined a total ad valorem tax of $1.4068 per $100 valuation.

Still, estimated property values within the boundaries of the school district are expected to increase by 11.6% compared to last year, with total taxable property value projected to increase from $16.5 billion to $18.4 billion.

The taxable property value and the accompanying M&O tax will be uncertain until the Texas Education Agency receives the certified property rolls. State law mandates that the Collin Central Appraisal District submits certified values by July 25.

A 2022-23 tax and budget public hearing will be held by Allen ISD on June 20, during which the district will consider adopting the projected budget and tax rate. If approved, the budget rate would go into effect in July. The board will later vote on the tax rate in an Aug. 22 meeting. 

Garrett Gravley is the reporter for the Plano Star Courier, Allen American, Little Elm Journal and The Colony Courier-Leader. Email him at ggravley@starlocalmedia.com with story suggestions.

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