LONGVIEW, Texas — Longview ISD trustees on Tuesday approved a roughly $141.8 million budget and a lower property tax rate for the 2023-24 school year.
During a special meeting, the board voted in favor of the proposed budget and new property tax rate of $1.1422 per $100 valuation. This rate is a decrease from last year's $1.3276 per $100 valuation, the school district announced Wednesday.
Dr. Wayne Guidry, LISD assistant superintendent of finance, said the district is projecting a balanced general operating budget of about $101.6 million, a debt service fund of roughly $33.48 million and a food service budget of $6.8 million.
"The budget includes salary increases for employees as well as retention bonuses for returning employees, and addresses rising inflation," he said.
According to Longview ISD, this year's budget will be the sixth consecutive year of the property tax rate decreasing.
Superintendent Dr. James Wilcox said the district has been cutting the tax rate recently after previously keeping it stable from 2010 through 2019.
"This illustrates how Longview ISD has worked to offset the sharp increase in property tax valuations that are well beyond our control," Wilcox said.
The district added that despite the reduction in the rate, the amount of property taxes collected may increase because of rises in property values from the appraisal district.
Click here to download the 2023-24 budget and tax rate.