DALLAS Trustees of Houston Independent School District will consider a property tax increase Oct. 10 for the first time in more than 10 years.
Voters in the district that serves most of Texas’ largest city approved a $1.9 billion general obligation bond package in November 2012. The Houston school district is the largest in Texas with more than 210,000 students and seventh largest in the United States.
The tax rate for debt service would go to 17 cents per $100 valuation from 15 cents. The tax for operations and maintenance would be set at $1.0267 per $100.
The Houston district’s last tax increase was in 2001.
The $1.1967 tax rate would keep Houston Independent School District’s levy lower than 23 districts serving Harris County, officials said. The Houston district also provides a 20% homestead exemption in addition the statewide 10% exemption.
The proposed rate would generate $6,791 per student, the district said.
Ground was broken in late September for the first of 40 new high schools funded with the 2012 authorization.
The first early college high school will be built in the district’s southern sector, with work on the northern second one slated to begin soon. Both schools will accommodate 400 students who can earn an associate degree by taking college-level courses on campus through collaboration with Houston Community College District.
Houston voters approved $805 million of GO bonds for the district in 2008, $808.6 million in 2002 and $678 million in 1998.
Houston Independent School District’s $2.47 billion of outstanding debt carries an underlying rating of AA-plus from Standard & Poor’s and Aaa from Moody’s Investors Service.