LUBBOCK -
Lubbock ISD Trustees set the tax rate for next year, and it will remain the same. However, there is a significant change that is going to require voters to head to the polls later this summer.
LISD Superintendent Berhl Robertson said it is no-brainer.
"The ability to do this without a tax increase, as far as I'm concerned is pretty phenomenal, and something that we think makes sense," he said.
There are two different tax rates, one that services the debt, and the other operates the district. The board wants to shift two cents of the tax rate from debt service to maintenance and operations. However, this will still keep the current district's total tax rate the same $1.235.
"With this tax rate, and no increase we are able to generate more than $5.5 million for our general fund," Robertson said.
This plan will fall under a "pay-as-you-go model." Robertson explains how this will generate more funding.
"The reason for that, is the two cents on the side that we moved it to are worth a lot more money," he said. "Essentially we got two and a half to one on our money. So it is a great investment on the district."
About $4.5 million would be used for technology, the remaining will go towards priority capital projects.
"We have campuses who have a lot of federal grant money that are set for technology right now," he said. We have other campuses who have no access to grant money, because they are not really in poverty schools that need some assistance."
Robertson said, in 2006, the legislature implemented a franchise tax.
"The tax rate to the max was a $1.50, and we went down to a third over two years down to a dollar, that was the compressed tax rate," he said. "Districts were able to access four pennies, without election. Most school districts in Texas accessed those four pennies the first year, because of the need, and we haven't done that in Lubbock simply because it would have been a tax rate increase and we are very sensitive to that."
The technology will be more for instructional items for the classroom, like Chromebooks and iPads.
The tax rates cannot be adjusted without voter approval. the shifting of pennies to the maintenance and operations tax would raise it to a $1.04, which is the state mandated cap.
State law requires the district to seek voter approval calling for a Tax Ratification Election, which will be held on Aug. 30.
