On Monday night the Friendswood ISD School Board unanimously approved a new tax rate of $1.2094, a decrease of 3 cents from the previous rate.
As part of HB 3, the Texas Legislature compressed tax rates for school districts resulting in a $0.0174 decrease in the Maintenance & Operations tax rate which accounts for the majority of the tax rate at $0.9170.
The remaining $0.2924 tax rate is applied to the Interest & Sinking fund which covers the interest costs on the recent construction bonds.
Despite the reduced tax rate, the school district projects they will collect an additional $2 million in revenue over last year. The increase is due in large part to the explosive growth in appraised property values. In the past year alone, taxable home values in Friendswood have risen an average of 10.39%.
The new tax rate applied to a home worth $300,000 would result in a tax bill of $3,628.20. Taxpayers can reduce their bill if they have a homestead exemption. Senior citizens over the age of 65 can receive an additional $10,000 exemption.
The School Board also received a progress update on the bond projects currently underway. The new Cline Elementary School and the High School Performing Arts Center are both slated for completion in June.
The Board also welcomed new staff members including a new Director of Finance, Terri Fretwell. Fretwell comes to Friendswood with 15 years of experience in school business. She previously worked as Accounting Manager at Deer Park ISD.
The Make a Difference Award was presented this month to three district employees: Juan Martinez, Refugio Zavala, and Deanna Dannenberg. Zavala recently celebrated 30 years of service as a custodian at Friendswood ISD. Recipients of the Make a Difference Award are recognized for going above and beyond to make a positive impact in the school district.
