Lower Tax Rate in KISD Budget

A lower property tax rate may be coming in Killeen for the 2013-2014 school year.

A tax rate of $1.128 per $100 assessed property value was proposed in the latest draft of the KISD budget, down from the 2012-2013 tax of $1.131 per $100.

The tax is made up of two components- maintenance and operations, which will remain at $1.04, and debt services, which will decrease from $0.091 to $0.088. The district currently has approximately $111 million in debt, which it is paying off at a rate of roughly $12 million per year.

The district expects to gain over $68.8 million in property taxes, $3.3 million more than the previous year, despite the lower rate. The increase is largely due to increased property values.