CONSIDERATION AND POSSIBLE ACTION TO ADOPT THE 2026 PROPERTY TAX RATE AND RESOLUTION SETTING THE TAX RATE: Speaker(s): Dr. Gregory Nelson, Superintendent Description: The Administration will present the proposed Lorenzo Independent School District property tax rate for Tax Year 2026. The proposed total tax rate is $0.79540 per $100 of taxable value, consisting of $0.79540 for maintenance and opera

Staff Report & Agenda Item Details

10.b. CONSIDERATION AND POSSIBLE ACTION TO ADOPT THE 2026 PROPERTY TAX RATE AND RESOLUTION SETTING THE TAX RATE: Speaker(s): Dr. Gregory Nelson, Superintendent Description: The Administration will present the proposed Lorenzo Independent School District property tax rate for Tax Year 2026. The proposed total tax rate is $0.79540 per $100 of taxable value, consisting of $0.79540 for maintenance and operations (M&O) and $0.00000 for interest and sinking (I&S). The proposed tax rate exceeds the District's no-new-revenue tax rate. Accordingly, the motion to adopt the tax rate must contain the language prescribed for adoption of the 2026 tax rate, and the Board's vote on the resolution setting the tax rate must be conducted as a record vote. The resolution establishing the tax rate will include the required statements that the adopted tax rate will raise more taxes for maintenance and operations than last year's tax rate and that the tax rate will effectively be raised by 18.14 percent and will raise taxes for maintenance and operations on a $100,000 home by approximately $113.20. These statements are required to appear in larger type than any other portion of the resolution. Because the proposed tax rate also exceeds the rate identified for the supermajority approval requirement, adoption requires an affirmative vote of at least 60 percent of all members of the Board of Trustees, regardless of the number of members present. Following adoption, the District will complete the required posting of the prescribed tax-rate statements on the homepage of the District's website in accordance with applicable requirements. THIS TAX RATE WILL RAISE MORE TAXES FOR MAINTENANCE AND OPERATIONS THAN LAST YEAR'S TAX RATE.

This motion is scored as EXPANDS_GOVERNMENT (Impact Weight: 9.3/10). Under the Bastiat Liberty Watchdog Index, measures that increase tax rates or fee schedules, issue new debt or Certificates of Obligation, expand regulatory/zoning restrictions on private land use, or authorize unbudgeted spending expansions reduce an official's Freedom Score when voted YES (and reward dissenting NO votes).