During the August 12th regular meeting, the Royse City ISD Board of Trustees approved a 10.165 cent tax rate decrease. The decrease is on the Maintenance and Operating (M&O) side of the combined tax rate and comes as a result of H.B. 3 that was approved by lawmakers this spring.
“We are grateful to our locally elected representatives and state legislators for their renewed commitment to the education of Texas students,” Byron Bryant, RCISD Chief Financial Officer said, “Our District chose to invest all of our additional funds due to the change in law directly into our staff with a record setting $4,000+ raise to all of our teachers, librarians, nurses, and counselors.”
About 42% of Royse City ISD’s total 2019-20 budget is funded by local property taxes. The state has committed to replacing funds lost by the required tax rate compression. The district stands to gain almost $2,000,000 in revenues with the passage of H.B. 3 over what RCISD would have received under the old law.
The Royse City ISD property tax rate is made up of two portions. The M&O rate and the Interest and Sinking (I&S) rate. The two combine to make the total RCISD property tax rate. The approved combined rate for 2019-20 is $1.56835 per $100 valuation; $1.06835 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.