The Royse City ISD Bond 2021 Referendum is a $230 million plan to address rapid student enrollment growth. Current and projected property value growth within the district allows Royse City ISD to fund the proposed projects with ZERO INCREASE TO PROPERTY TAXES.
The Royse City ISD Administration and School Board also know that taking care of taxpayer dollars is paramount. In 2019 and 2020, the school board approved a tax rate decrease totalling more than 20 cents - saving a $300,000 homeowner about $600 per year. The proposed Bond 2021 program will not result in a tax rate increase as projects will be funded by anticipated property value growth across our great district.
Royse City ISD's tax rate of $1.4648 has decreased by more than 20 cents since 2018
Royse City ISD's tax rate will not increase as a result of the Bond 2021 projects
More than $200 Million in new commercial and residential property value growth is projected in 2021.
Royse City ISD will exceed 11,000 students by 2030
More than 17,000 future residential lots are within Royse City ISD
Royse City ISD Finance Office Earns Award of Merit
The Texas Association of School Business Officials (TASBO) has released a list of 53 educational organizations in the state who are recognized for following best practices in the area of purchasing operations. Royse City ISD made the list for a fourth consecutive year in a row.
“The Award of Merit was created to recognize Texas school districts, open-enrollment charter schools, and education service centers that are committed to following professional standards in the acquisition of goods and services. It is an honor to recognize them,” said TASBO Executive Director Tracy Ginsburg.
The Royse City ISD Finance Team, and specifically Purchasing Director Angel McCrary, will be honored at a reception in February at the TASBO annual conference.
About the honor, Royse City ISD Chief Financial Officer Byron Bryant said, “This is a direct result of the hard work and knowledge of our team and Angel McCrary. The consistency in earning this distinction is outstanding and serves as a good signal to the taxpayers of the financial operations of our great district.”
Tax Rate Reduction History
ROYSE CITY ISD TAX RATE DECREASES BY MORE THAN 20 CENTS OVER 2 YEARS
During the August 10, 2020 regular meeting, the Royse City ISD Board of Trustees approved a 10.355 cent tax rate decrease. The decrease is on the Maintenance and Operations (M&O) side of the combined tax rate and comes as a result of H.B. 3 that was approved by lawmakers in the Spring of 2019. In August of 2019, the board approved a separate 10.165 cent tax rate decrease bringing the two-year total to 20.52 cents.
Longtime school board trustee Bobby Summers said, “In Monday night’s RCISD School Board Meeting, CFO Byron Bryant announced the second significant cut in Royse City ISD School taxes. I have been on the School Board for over 26 years now and I have never seen, nor heard of a cut in school taxes to this magnitude. This is a historical move in Royse City ISD existence. During these uncertain economic conditions, I am very proud of the financial management of our school district. We are now able to pass savings onto our taxpayers during these critical challenges that we are facing.”
For reference a $.20 tax cut represents a $600.00 reduction in a $300,000 home valuation. About 40% of Royse City ISD’s total 2020-21 budget is funded by local property taxes. The state has committed to replacing funds lost by the required tax rate compression.
The Royse City ISD property tax rate is made up of two portions. The Maintenance and Operations (M&O) rate and the Interest and Sinking (I&S) rate. The two portions combine to make the total RCISD property tax rate. The approved combined rate for 2020-20-1 is $1.4648 per $100 valuation; $0.9648 for M&O and $.50 for I&S. M&O funds are used for daily operations and salaries while I&S funds can only be used to pay long-term debt that was previously approved by local RCISD taxpayers.