Austin school district voters on Nov. 5 will decide whether to approve raising the property tax rate by 9.1 cents, an increase that would generate $41 million in additional revenue for Austin schools during a time when districts across the state have been slashing their budgets and adopting hefty deficits.
Austin district officials have pledged that if voters approved the higher tax rate, they would use the money to fund a $17.3 compensation package for staff members and $3 million for instructional coaches, as well as to help offset the district’s $119 million deficit.
Voters will decide whether to approve a school district tax rate of 95.05 cents per $100 of property valuation, which is 9.1 cents higher than the district’s 2023-24 tax rate of 85.95 cents per $100 of valuation. If the election fails, property owners’ tax rates would remain at 85.95 cents per $100 of valuation.
The higher tax rate would cost owners of an average-value home in Austin an extra $420 annually.
If the tax rate election passes, Austin school officials could reduce the $119 million deficit to $78 million, the district has said.