DSISD adopts decreased tax rate

DSISD Board of Trustees unanimously approved the annual tax rate at the September 28 board meeting, which represents an 8.5-cent decrease from the 2019-20 rate. The approved rate is $1.3332 ($0.9832 Maintenance and Operations/0.35 Interest and Sinking) per $100 of certified property value. This compression of the Maintenance and Operations rate is a result of House Bill 3 that was adopted in the spring of 2019.

This will mark the second consecutive year that DSISD decreases its tax rate. DSISD’s 2019-20 tax rate of $1.4183 was a reduction of more than 10 cents from the 2018-19 rate of $1.52. Over a two-year period, DSISD’s property tax rate will decrease 12.3 percent. Property tax bills are a product of the tax rate and property value.

With the reduced M&O tax rate, DSISD is expected to collect a similar amount of overall taxes as the 2019-2020 school year after increased property valuations have been taken into account.