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how school district taxes work
The GCISD trustees set the tax rates.
The amount in taxes paid to GCISD is determined by the tax rate multiplied by our property value. Thus, taxes can go up:
- if rates go up OR
- if property values go up.
There are two tax rates that comprise the total GCISD tax rate, which puts the money into two different buckets for GCISD to use.
- One bucket is for Maintenance and Operations, which covers salaries for teachers and administration.
- The other is the Debt Service bucket, which is used to pay back outstanding bonds for capital improvements.
Money collected in one bucket cannot be moved to the other bucket, so Debt Service money cannot be used for Maintenance and Operations.
Robin Hood is a Texas program which GCISD is required to pay into that takes money from the M&O Bucket. Because of this, it is more efficient to pay for capital improvement projects and equipment through bonds, which creates the need for the Debt Service bucket.
balanced Budget adopted june 20, 2023
Balanced Budget
As required by law, GCISD will be starting off the year with a balanced budget. This budget initiative was accomplished in coordination with district leadership and voted in our Trustees.
Future Expenditures
Any additional expenditures for the year can be approved on an as-needed basis by the board. This allows the board to be flexible and focused with spending. It also allows for maximum transparency to taxpayers about expenditures.
Protecting the Financial Future of our Schools
As our country heads further into a recession, it is of the utmost importance that GCISD focuses its resources where we need it most -- in the classrooms. This means teacher pay and instructional materials. In accordance with this philosophy, the approved budget included another teacher pay raise to bring their salaries to a competitive market level.
tax reduction
GCISD Trustees Vote in the Greatest Tax Rate Reduction Since 2007
The Grapevine-Colleyville ISD Board of Trustees voted Monday, September 25, 2023, to reduce the tax rate for the fifth consecutive year. The 2023 total tax rate will be $0.9247 per $100 valuation for 2023, which is 20.61 cents less than the total 2022 tax rate.
“Over the past three years, we have been able to give nearly 40 cents back on the tax rate, and while state compression plays a role, the Board is responsible for the debt service tax rate, which we have been able to lower considerably,” Board President Shannon Braun said. “This is real savings, and our constituents will pay less on their GCISD taxes.”
The total tax rate consists of two separate tax rates: Maintenance and Operations (M&O) and Interest and Sinking (I&S). Funding received through the M&O tax rate may be used for:
- Day-to-day operations
- Salaries
- Utilities
- Vehicle repair, maintenance and fuel
- School supplies and materials
- SROs and additional safety measures
- Custodial supplies
- Ground and building maintenance
Funding received through the I&S tax rate, which is the debt service fund, may ONLY be used to pay for voter-approved bonds.
The GCISD total tax rate has been reduced by 47.2 cents over the last five years.
Learn More
This information was taken directly from the District's website and has a great more detail about the M&O and I&S tax rates, as well as a brief discussion of "Golden Pennies." Select the button below for the entire article.
BOND & TAX rate info
- May 2016: GCISD voters passed a $248 million dollar bond. The bond-supported projects impacted every campus and addressed growth and facility improvements.
- August 2016: The District sold $188 million in bonds.
- September 2019: The District sold the remaining authorized bonds of $60 million.
- Since 2005, the District has implemented "several refunding transactions and have pre-paid bonds in order to save approximately $118.6 million in future interest costs to taxpayers."
- The District projects ending the 2022-23 fiscal year with "a Debt Service fund balance of approximately $59.8 million."
- In January 2024, the Board of Trustees is expected to follow the recommendation of the District to authorize a bond election in the amount of $150 million for taxpayers to approve/deny during the May 2024 election.
Quoted Source: GCISD Budget Book for 2023-24
Debt service
GCISD's Debt Service Payment Schedule has $48,371,200 dollars on the books for Fiscal Year 2023-24.
This table is from the district's annual Budget Book for 2023-2024.
The download link is above.