Canadian and Hereford ISD have ‘Gold Pennies’ on tax rate election ballot

AMARILLO, Texas (KFDA) - Hereford and Canadian ISD have ‘gold pennies’ on their tax rate election ballots. Despite adding three cents, both districts tax rate will decrease and these funds will stay local.

“We’ll go from last year $1.2734 to $1.16, so almost 11 pennies,” said Lynn Pulliam, Superintendent of Canadian ISD.

These three golden pennies will stay local, and will not be recaptured by the state, helping these districts with their maintenance and operations, such as salaries.

“Funds that come from our local taxes and our state revenue that come in from these three golden pennies will be staying local for maintenance and operations for our facilities and also for staff salaries,” said April McDaniel, District Communication Coordinator for Hereford ISD.

April McDaniel says these funds are important for school districts, and can help with staff.

“We educate our kids in our staff is important to us and maintaining that staff and taking care of our staff is a big portion to just a big piece of taking care of our community and our students and our families,” said April McDaniel.

Canadian and Hereford will both generate a significant amount if the tax rate is approved, Hereford being able to generate over $1 million.

“It will add an additional $400,000 to our operating budget. It helps us with those increased day to day cost of running a school district and it helps us with our staff salaries we want to remain competitive and be able to attract and retain quality teachers,” said Lynn Pulliam.

The three gold pennies are apart of usual tax rates, but are not recaptured by the state, and can not be redistributed to other districts.

“Funds that come from our local taxes and our state revenue that come in from these three golden pennies will be staying local for maintenance and operations for our facilities and also for staff salaries,” said April McDaniel.

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