After being approved by the Spring ISD Board of Trustees in early August, the district will include a Voter Approval Tax Rate Election (VATRE) on the upcoming Nov. 5 ballot.
The measure proposes a tax rate of $1.1569 per $100 of property valuation for the 2024 fiscal year, a 5-cent increase from the current rate. This would cost the average homeowner an extra $7 per month, generating about $20 million for the schools on an annual basis and allowing the district to eliminate its budget deficit and provide teacher and staff raises.
Homeowners who are receiving a homestead exemption for disability or are age 65 or older would not see an increase above their tax ceiling as a result of the VATRE.
The proposed tax rate, if approved by voters, would provide critical funding for teacher and staff salaries, including a 2% across the board raise for all staff. Starting teacher pay would increase from $60,500 to $61,500 per year, and targeted adjustments would be made for teachers with 5-15 years of experience, putting it in line with other local school districts.
With no increase in the state’s per-student allotment since 2019 and an inflation rate that has hit 17%, many school districts, including Spring ISD, have had to look to tax increases to generate needed funding.
Voters will have the chance to vote on the measure on Tuesday, Nov. 5.
