Corsicana ISD Trustees Aug. 30 approved the total tax rate of $1.24430 per $100 of property valuation, which is a lower tax rate than the previous year. This includes a Maintenance and Operations tax rate of $0.96340 and an Interest and Sinking tax rate of $0.280900 per $100 of property valuation.
While property appraisals may increase, the overall tax rate is lowest it has been in over a decade said CISD Board President Leah Blackard.
Trustees also approved the 2021-2022 fiscal year budget, totaling $58,128,834. The budget includes federal, state, and local funding, The largest portion of district funds come from appraised property values and the state, which provides funding partially based on attendance, according to CISD Superintendent Dr. Diane Frost.
The district allocates $4.2 million annually towards benefits for employees. The budget is 83% payroll consisting of salaries, insurance, benefits, retention stipends, substitute teacher and overtime funds.
The district will pay the increased cost of insurance for district employees totaling $275,000. Nearly 85% of the districts 860 employees use the provided insurance. The cost was already added into the 2021-2022 budget.
Trustees also named Fr. Ed Monk as the district’s representative on the Navarro County Appraisal District Board.
The Board approved the consent agenda then adjourned into closed session without taking further action.