Plano ISD property tax rate remains steady

by | Sep 21, 2017 | Latest

Staff Writer

For the third straight year, residents who pay property taxes to Plano Independent School District won’t see a rate increase, but their tax bills will go up.

The PISD board of trustees approved a property tax rate of $1.439 per $100 appraised valuation during the September meeting.

According to Steve Fortenberry, PISD Chief Financial Officer, the district expects to collect eight percent more this year in property taxes although a portion of the new revenue will go directly to the state for mandatory recapture payments.

Under recapture, the district will send $150.6 million, or $46 million more than the $104.6 million surrendered last year, to the state under the Robin Hood Plan. The plan mandates that a certain percentage of tax dollars is redistributed from affluent school districts to the state for distribution to low property wealthy districts.

For the full story see the Sept. 21 issue or subscribe online.

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