School districts, cities setting tax rates for the upcoming year

Video - Tax Rates being set for upcoming year KFDA

AMARILLO, Texas (KFDA) - School districts and cities in the area are setting their tax rates for the upcoming year.

The Amarillo Independent School District adopted their tax rate last month, and it is the lowest tax rate in the last 13 years.

Amarillo ISD will be lowering their tax rate by .07 cents compared to last year.

The decrease in the maintenance and operations rate is the result of the tax compression required in House Bill 3.

Canyon ISD is also decreasing their tax rate from last year.

Amarillo College is doing the opposite, as they will be raising their tax rate for the first time in six years.

“We did increase our increase and sinking tax fun by 2.04 percent or four cents per $100 evaluation and that will go into affect with next year’s tax rate, and that goes to support projects that we have currently slated,” said _____.

The projects mentioned will be renovating the Student Services Center, Russell Hall, Carter Fitness Center and the Energy Building.

This increase was voted on and approved by voters.

The twist is that voters approved a four cent tax increase, but they will only see a two cent increase, as the college is doing the construction one phase at a time.

The city of Amarillo is planning on raising it’s tax rate. The effective rate, which is the rate that would raise that would raise the same amount of money as this year is .36 cents per one hundred dollars of taxable property value. The new rate, if approved, would be almost .39 cents. According to Mayor Ginger Nelson, the increased revenue would largely go to 10 new firefighters, 3 new animal management workers, increased street funding and for bond projects approved earlier by voters.

The city of Canyon is setting it’s new rate at the effective rate, to raise the same revenue as this year.

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