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how school district taxes work
The GCISD Board of Trustees sets 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:
- Maintenance and Operations -- daily expenses, salaries, etc.
- Debt Service -- bond repayment (capital improvements).
Money collected in one bucket cannot be moved to the other bucket.
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 approach
Balanced Budget & Flexibility
As required by law, GCISD starts off every year with a balanced budget. This budget has a fund balance to meet any unforeseen needs (such as unfunded mandates from the state). The Board of Trustees passes the most conservative budget possible every year to try to protect the fund balance (savings).
Future Expenditures & Transparency
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 while allowing for maximum transparency to taxpayers about expenditures.
Expenditure Focus on Classrooms
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, every budget focuses on keeping resources in the classrooms.
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."
- January 2024: The Board of Trustees followed 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. The "Bond Advisory Committee" created this bond package.
- May 2024: The GCISD community voted to approve a $150 million dollar bond that was broken into 3 propositions. All 3 propositions were approved by over 60%.
- November 2024: The GCISD community voted to approve a VATRE with a 57.9% approval rate. The Board of Trustees had already lowered the tax rate on the I&S side of the budget earlier that year, so the voter-approved tax rate increase on the M&O side of the budget was offset. After approval, the overall tax rate went down.
Quoted Sources: GCISD Budget Book for 2023-24; gcisd.net/page/bond-2024
