EL PASO, Texas (KTSM) – The Canutillo Independent School District approved a lower tax rate for the fiscal year 2024 than the rate approved last year, the district announced in a press release.
On Tuesday, Sept. 10, Canutillo ISD’s Board of Trustees adopted a fiscal year 2024 tax rate of $1.1552 per $100 evaluation, a half-cent reduction from the tax rate set last year.
However, because the El Paso Central Appraisal District valuated homes at a higher rate this year, the average homeowner could see an increase in their school tax bill, according to Canutillo ISD.
“We continue to be good stewards of the taxpayers in Canutillo, and our tax rate continues to decrease because of the unprecedented growth our community is experiencing,” said Superintendent Dr. Pedro Galaviz. “We had anticipated a slight increase in the tax rate because of the passage of the Bond in May, but fortunately we were able to bring the board a slight decrease.”
Last year’s tax rate was $1.1605, which is $0.0053 higher than the approved tax rate for this fiscal year, according to Canutillo ISD.
“The average value of a Canutillo ISD home – a figure set by the Central Appraisal District and not the school district – increased from $257,416 to $282,482. That means the average school tax bill in the district increased by $281 this year because of a higher average home evaluation,” read the press release.
Canutillo ISD said the fiscal year 2024 tax rate on an average home valuation from last year would yield $1,818.47 in school taxes, about $8.34 less than it did last year.
The school taxes are used for the cost of operating schools including school programs, teacher salaries, health insurance and the maintenance of all campuses.
Earlier this summer, trustees approved an operating budget for fiscal year 2024 of $89.1 million, according to Canutillo ISD.
Read: Read More