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Socorro ISD homeowners may see school tax decrease, while Ysleta ISD will increase [1]

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Date: 2024-09-23

Homeowners living within the Socorro Independent School District boundaries may see a decrease in the district’s portion of their 2024 tax bills, while those living in the Ysleta Independent School District are likely to see an increase.

Both school districts adopted their voter-approval rates this month – the highest tax rate possible without triggering an election.

The changes will be reflected in the 2024 tax bills that go out in October and are due in January.

SISD reduces tax rate after overcharging homeowners

The SISD school board voted 5-0 on Sept. 18 to adopt a tax rate of $1.0589 per $100 valuation, reducing taxes on the district’s portion of the bill by about $60 for the average $238,800 home.

Trustees Pablo Barrera and Ricardo Castellano were not present during the meeting.

This comes after the district announced in June that it had overtaxed homeowners for the 2023 tax year by approving a higher tax rate for its operations than what is allowed by the Texas Education Agency.

To correct the issue, the district said it would reduce the portion of the 2024 tax rate that pays for day-to-day operations by an equal amount – just over a penny-and-a-half.

In a rare occurrence across Texas school districts, SISD’s adopted voter-approval rate is lower than the no-new-revenue rate of $1.14 per $100 valuation – the tax rate needed to generate the same amount of revenue from property that was on the rolls both last year and this year. This happens when the taxing entity substantially reduces debt, therefore reducing the debt portion of the tax rate.

YISD homeowner to see tax increase

The YISD school board on Sept. 10 voted 6-1 to adopt a tax rate of $1.2315 per $100 valuation, which translates to an increase of about $120 on the average $190,500 home in the district.

Trustee Chris Hernandez cast the lone vote against the motion after mentioning that the rate would increase taxes for some homeowners and questioned the no-new-revenue rate of $1.1979 per $100 valuation.

The district’s adopted tax rate is about 3 cents higher than its no-new-revenue rate, meaning it will collect more money in property taxes compared to the previous year.

YISD residents who live in homes they own get a 20% homestead exemption on top of the state’s $100,000 homestead exemption. It is the only district in El Paso County offering the additional homestead exemption.

See Also How are my property taxes calculated? 7 things to know about the complicated process Who determines my property taxes? When will I get my tax bill and when are taxes due? How will proposed bonds impact my taxes? We’ve got answers.

What other school districts adopted

The Clint and Canutillo independent school districts also adopted the highest tax rate possible without needing to go to voters.

In August, Clint ISD approved a tax rate of $1.13 per $100 property valuation, increasing taxes by about $166 a year for the average $196,800 home.

Canutillo ISD approved a tax rate of $1.1552 per $100 property valuation on Sept. 10, causing a roughly $280 increase on the average $282,500 home.

The El Paso Independent School District approved a tax rate of $1.08 per $100 property valuation in August, raising taxes by about $120 on the average $250,900 home. It is the only district in El Paso County that approved a tax rate below its voter approval rate, which for the district was $1.11 per $100 valuation.

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[1] Url: https://elpasomatters.org/2024/09/23/sisd-yisd-tax-rates-2024/

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