District offers tax calculator for financial transparency
In alignment with its financial transparency efforts, Pearland Independent School District makes available a Taxes Due Calculator tool for the community on its website. The calculator can be utilized to help guide citizens in making an informed decision regarding the Pearland ISD Prop A (Voter-Approved Tax Rate Election), which was triggered by the adoption of the lowest overall district tax rate in at least 30 years.
Passage of Prop A by the voters in November would decrease the total tax rate by 0.33 cents. Homeowners will see a decrease of $3.30 in their tax bill per $100,000 property valuation. Approval of this tax rate will maximize school district funding by nearly $7.4 million, with $2.7 million coming from local taxes and $4.7 million coming from the State. These additional funds would allow Pearland ISD to sustain its 1:1 device initiative, maintain educational opportunities for all students, continue recruiting, supporting and retaining world-class employees.
Should Prop A fail, the total tax rate would decrease by 3.33 cents and homeowners would see a decrease of $33.30 in the tax bill per $100,000 property valuation. In this case, the district would not receive additional funding.
In either case, homeowners will see a decrease in their overall tax rate.
On the ballot in November as Prop A, the Pearland ISD VATRE will be referenced as an increase in local tax revenue with the following language: “Ratifying the ad valorem tax rate of $1.3152/$100 in the Pearland Independent School District for the current year, a rate that will result in an increase of 6.09 percent in maintenance and operations tax revenue for the district for the current year as compared to the preceding year, which is an additional $4,255,612.”
Pearland ISD continues its commitment to the tradition of world-class fiscal management, as well as high student achievement. To access the Tax Due Calculator tool and learn about your estimated yearly property taxes, with the passing or failing of the VATRE, visit www.pearlandisd.org/PropA.