Carthage ISD is dropping its tax rate, but a $400 million increase in property value appraisals means the average taxpayer will see a $35 increase this year.
That increase in appraised values also means Carthage ISD will pay more in recapture fees to the state — aka “Robin Hood” payments — than originally anticipated.
Carthage ISD trustees are set to adopt the budget and tax rate at their Monday meeting.
The district is proposing to drop its tax rate by 7 cents to $1.21 per $100 valuation.
The proposed budget includes a projected $31.5 million in total revenues, with $25.944 million for maintenance and operations costs and about $5.5 million in recapture payments.
The district received about $2.1 million in additional state funding from House Bill 3 and will use that to fund salary increases that average to about 7 percent.