Carroll Trustees Trim 5 Cents Off Tax Rate

Friday, Sep. 12, 2008
Carroll Trustees Trim 5 Cents Off Tax Rate
By Nicholas Sakelaris
Staff Writer
This week brought good news for Carroll homeowners, especially those in Southlake.

Carroll school district trustees chopped 5 cents off the property tax rate at their Monday meeting. The total rate will be $1.415 per $100 of assessed property value.

The reduction comes from the interest and sinking [I&S] portion of the tax rate, which pays off debt associated with bond elections. By refinancing its variable rate bonds, Carroll can strike a balance between paying off debt and giving relief to homeowners, said Robb Welch, assistant superintendent for financial services.

A homeowner in the Carroll district with a $446,025 home, the average value in CISD, will save about $233 a year on their school property taxes. The average taxable value of a home in CISD increased by more than $17,313, meaning that with the tax decrease, the owner of an average home will only pay about $12 more in school taxes this year.

Trustee Sue Armstrong said the district is in a good position to lower the tax rate.

"We’re still being prudent and paying off the debt early but also giving our taxpayers a break," Armstrong said.

Southlake homeowners will also benefit from a $15,000 homestead exemption approved on first reading by the City Council last week. That could save Southlake homeowners another $69 a year in city property taxes. A final vote is scheduled for Sept. 16.

Based on the district’s valuation, Carroll generates about $530,000 per penny on the I&S tax rate. The 5-cent decrease will reduce the district’s revenue by $2.65 million.

"Tough economic times call for some sensitivity to that," said board President Erin Shoupp. "I’m comfortable with that."

The district’s maintenance and operations tax rate will stay at $1.04, four cents of which is not subject to Chapter 41 payments, also known as Robin Hood.

In other action, a new student handbook will debut soon at southlakecarroll.edu. Trustees approved an updated 2008-2009 Carroll ISD Handbook and Student Code of Conduct that is alphabetized by subject with cross references. Hot topics like dress code, cellphone policies and grooming regulations will be easily accessible.

Lowell Strike, assistant superintendent for student services, noted that even staff had a hard time finding policies using the old format.

There weren’t any major policy changes to the document, mostly because the Texas Legislature didn’t meet in 2007, Strike said.