AMARILLO, Texas (KAMR/KCIT) – After passing the 2021-22 school year budget in June, the Amarillo Independent School District (AISD) Monday night adopted a new tax rate of 1.1496 cents per each $100 for the upcoming fiscal year, markedly lower than the previous year’s tax rate.
As appraised values in Amarillo and statewide grow, Texas House Bill 3 established a ‘compression’ of such tax rates. According to AISD Deputy Superintendent Pati Buchenau, the compression was meant to prevent significant tax increases in expanding communities such as Austin, which has seen “double digit” growth in recent years. Amarillo itself likely saw a broad notable increase in property values since 2020, which may have risked a tax rate increase as well without the measure in the bill.
Instead, Buchenau said residents of Amarillo can expect to see lower tax rates as the appraised values continue to rise.
Regarding the budget at large, the AISD School Board said that more funds are expected for maintenance and operations compared to last year. Despite the tax rate decrease, Buchenau explained that any possible loss in revenue for the school district would be covered by the state of Texas in accordance with the bill.