Board Agenda Includes Adoption of Decreased Tax Rate
September 25, 2020
The annual tax rate that will be presented at the Sept. 28 Board of Trustees meeting represents an 8.5-cent decrease from the 2019-20 rate. The proposed rate is $1.3332 ($0.9832 Maintenance & Operations/0.35 Interest & Sinking) per $100 of certified property value. This compression of the Maintenance & Operations rate is a result of House Bill 3 that was adopted in the spring of 2019.
This will mark the second consecutive year that DSISD decreases its tax rate. DSISD’s 2019-20 tax rate of $1.4183 was a reduction of more than 10 cents from the 2018-19 rate of $1.52. Over a two-year period, DSISD’s property tax rate will decrease 12.3 percent.
Property tax bills are a product of the tax rate and property value.
Other agenda items include the District Improvement Plan, Board Operating Procedures, and Policy Update 115. In addition, a summary report will be provided on the recent refunding (refinancing) of three existing bond series that will result in more than $18 million in savings. Click here for the full agenda.