KATY [September 28, 2020] – Katy Independent School District will be saving its taxpayers some money this year. At tonight’s Board Meeting, Trustees approved a drop in the school tax rate of 5.43 cents per $100 valuation.
“The property tax rate is decreasing 5.43 cents due to the passage of House Bill 3, which was approved during the 86th legislative session in 2019,” said Chief Financial Officer Christopher J. Smith. “Our goal is to consistently provide high-quality education to our learners while being a good steward of our taxpayers’ dollars. With this decrease, a residential household will see an approximate savings of $148 for the 2021 taxable year,” added Smith.
| Current Tax Rate: 2019-20 | |
| Maintenance & Operations/General Operating (M&O) | $1.0531 |
| Interest & Sinking/Debt Service | $0.3900 |
| Total Tax Rate | $1.4431 |
| Proposed Tax Rate: 2020-21 | |
| Maintenance & Operations/General Operating (M&O) | $0.9988 |
| Interest & Sinking/Debt Service | $0.3900 |
| Total Tax Rate | $1.3888 |
This will be the fourth time in the last 15 years that Katy ISD has reduced its school tax rate. Tonight’s approved tax rate will take effect immediately and will be seen on tax statements later this fall.
