PLANO (CBSDFW.COM) – Plano voters will decide this November whether to approve a property tax increase to benefit the school district.
Tuesday night, Plano ISD school board trustees approved a measure to put the issue the ballot this fall. The district is seeking an 8-cent increase to the tax rate. If passed, the rate would go up $1.4550 per $100 of assessed property value. The increase would add up to an estimated $187 per year for the owner of a $250,000 home, which is the average in Plano.
Plano schools lost $59 million in state funding during the 2011 legislative session, according the district. While some of that funding has been restored, Plano ISD’s superintendent Richard Matkin says the district still needs to cover a $20 million shortfall.
Principals have been asked to identify places to cut if the tax hike is not approved. Increased class sizes, teacher layoffs and cuts to extra curricular activities are all on the table.
Superintendent Matkin claims that even with the proposed tax hike, Plano will still have the second lowest school property tax rate in Collin County.
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