Austin ISD officials are elated with voters’ approval of Proposition A, the property tax increase measure that will provide millions of dollars of extra funding to the district. Prop A will raise school taxes on a median value home by about $400 per year and generate about $171 million in revenue.
“Our community showed up for our schools,” AISD Trustee Lynn Boswell told the Chronicle on Tuesday evening. “They show up for our schools even when it’s hard—and, sometimes, especially when it’s hard.”
Prop A was hard for some voters to approve because only about $41 million of the taxes raised will stay in the district, something that school board trustees were careful to acknowledge in the months leading up to the election. The other $130 million will go back to the state of Texas through its recapture process. Of the money the district keeps, $18 million is expected to go to raises for district staff and most of the rest will be used to pay down the district’s $119 million deficit.
Read more at The Austin Chronicle.
