El Paso ISD board sets tax rate election for Aug.22

The El Paso Independent School District board voted unanimously to set Aug. 22 as the date for its tax rate election.

The district’s rate is $1.23 per $100 of home valuation. The rate will stay the same, but the board is lowering the amount it pays to debt, move those pennies instead to the maintenance and operations side of the the tax rate.

Maintenance and operations will get $1.07, up from $1.04, while sinking and interest will get 16.5 cents instead of 19. 5.

Board President Dori Fennenbock said this is a move by the state to help low income districts get equity funding.

“This is a clear win for our community,” Fennenbock said. “They call then the ‘Austin Golden Pennies.’ It allows districts like ourselves to access additional funding at no impact to the tax rate. It’s a clear win, it helps our teachers, it helps our schools.”