SMCISD sends tax rate to November ballot
The San Marcos Consolidated Independent School District approved the certified appraisals from Hays County, Caldwell County and Guadalupe County and adopted the tax rate of $1.0152 per $100 of taxable value. According to SMCISD Board President Anne Halsey, this means that the November ballot will be a Voter Approved Tax Rate Election with the option to vote for or against the district receiving two additional Golden Pennies on its total tax rate, which are worth a penny a piece per $100 of taxable value.
“SMCISD will stand to receive between $2.7 to $2.8 million dollars if the VATRE is successful. This would be an additional source of revenue every year, not just one year. Keep in mind that there are variables such as certified property values, ADA and enrollment that play into that figure from year to year. Also, these funds are not subject to recapture, if the district finds itself in a recapture position in the future,” SMCISD Chief of Communications Andrew Fernandez said. “If the VATRE is not passed in November, the total tax rate would revert back to the voter-approved tax rate of $0.9952.”
According to board documents, the certified appraisals have gone up from the previous year: 2023 Hays County — $9,283,945,306, 2024 Hays County — $9,757,572,414, 2023 Caldwell County — $263,502,728, 2024 Caldwell County — $284,960,407, 2023 Guadalupe County — $333,086,838, 2024 Guadalupe County — $348,024,023, 2023 total — $9,880,534,872 and 2024 total — $10,390,556,844. There was $510,021,972 more appraisal value for the district in 2024 compared to 2023.
“Keep in mind that property value, as it increases, will have a compression mechanism built into your compressed M&O [Maintenance and Operations] tax rate or your MCR [Maximum Compressed Rate],” said Michael Doyle, SMCISD business and finance director. “So the more property value that a district receives, the lower or more compression you’ll get on that MCR rate.”
Doyle showed the Chief Appraiser’s Certified District’s Taxable Values for 2024 is $10,390.556,844. The appraisal value for 2023 is $9,880,534,872. The local property value has grown by 5.16% in 2024. The local property value had grown by 8.64% in 2023 compared to the previous year. The compressed M&O tax rate is $0.6169 in 2024, and in 2023 the compressed M&O tax rate was $0.6202.
“The TEA sets those rates based on your property values,” Doyle said. “The only way to increase that rate is to go out for a tax rate election or already have those [Golden or Bronze] pennies associated with that tax rate.” Doyle said SMCISD currently has six Golden Pennies and can have up to eight with voter approval then can add bronze pennies after that, which are worth less than the Golden Pennies. Each Golden Penny is worth one cent per $100 of taxable value. Doyle showed that since the maximum compressed tax rate for 2024 is $0.6169. The additional eight cents would make the total M&O rate $0.6969. The Interest and Sinking tax rate is $0.3183. The total tax rate of all of those combined is $1.0152.
“The vote to adopt the tax rate must have a record vote and must have 60% or more of the governing body, or the board if you will, pass or be in favor,” Doyle said.
The board voted unanimously to adopt the tax rate and, in effect, hold a VATRE during the November election.
