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The Floresville Independent School District has lowered the property tax rate by 10 cents, leading to lower bills for many taxpaying locals.
According to Wilson County News, the new rate is now $1.2344 for every $100 of taxable property, the school board decided during a meeting on Aug. 20. The previous rate was $1.355 per $100 of property value.
“We are excited that our community will see a 10-cent reduction in their property-tax rate,” Floresville ISD Board President Penny Smith said.
The rate includes 93.05 cents to cover maintenance and other related costs like salaries and resources. The remaining 30.39 cents is for the principal and interest that will be used to pay off debt.
Smith added that the Floresville ISD has a pattern of voting to lower the tax rate.
“This is the third time in seven years the Floresville ISD board has voted to reduce the tax rate. While lowering the tax rate, we were also able to increase the district’s fund balance from $2 million to over $9 million, putting FISD in a fiscally strong position,” Smith said.
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