|What is a VATRE election?||A Voter Approved Tax Rate Election (VATRE) is a special election called by a school district, asking voters to approve an increase above the maximum Maintenance and Operations tax rate.
In Texas, school district budgets are funded by two different tax rates: Maintenance and Operations (M&O) and Interest and Sinking (I&S). The M&O rate funds the day-to-day maintenance and operations of the district, while the I&S rate funds debt repayment for construction projects and other capital improvements; these funds cannot be used to supplement district operational funds or salaries.
|Background||Godley ISD currently has an M&O tax rate of $0.9664 per $100 valuation. GISD proposes raising the M&O tax rate by 12 cents to $1.0864. However, due to changes in state law (HB 3 tax compression), the state of Texas will pay 9.5 cents of the increase; therefore the proposed new M&O tax rate for GISD would be $0.992, an increase of 2.56 cents over the current rate.
According to GISD, the proposed increase to the M&O tax would generate an additional $2.7 million in annual revenue, all of which would be dedicated to teacher and staff salary increases in order to attract and retain instructional staff. On average, teachers would receive a 15% salary increase.
|Resources||“Godley ISD to hold VATRE election this upcoming November,” Godley ISD, https://www.godleyisd.net/apps/news/article/1479316 (click through to VATRE FAQ page)|
|Proposition||Ratifying the ad valorem tax rate of $1.492 in Godley Independent School District for the current year, a rate that will result in an increase of 16.7 percent in maintenance and operations tax revenue for the district for the current year as compared to the preceding year, which is an additional $1,636,620.00.
Ratificando la tasa de impuestos ad valorem de $1.492 en el Distrito Escolar Independiente de Godley para el presente año, una tasa que va a resultar en un aumento del 16.7 porciento en mantenimiento y operaciones de ingresos fiscales para el distrito en este año lo cual comparado con el año anterior, es un $1,636,620.00.
|If I vote FOR||The Godley ISD tax rate will rise to $1.492 per $100 valuation.|
|If I vote AGAINST||The Godley ISD tax rate will remain $1.466 per $100 valuation.|
|Tax Consequences||If the proposition passes, the Godley ISD tax rate would increase by 2.56 cents. Based on an average taxable home value in the district of $171,724, the average homeowner would see a tax increase of $43.96 per year.
Property taxes for those who are 65 or older, or who are disabled, are not impacted by a tax rate increase under the homestead exemption.