BEAUMONT, Texas — Voters living in the Beaumont Independent School District have said yes to a tax rate approval that will generate $13M that will allow the district to give raises to teachers and staff.
With the approval of voters, the district can move money that was set aside for paying off old school bonds into its operations funds.
The Voter Tax Rate Approval Election (VATRE) passed with XXX,XXXX votes, or XX% of the votes in the general election. The against votes numbered XXX,XXX or XX% of the vote.
The district hopes to give certified teachers and employees across the district a 5% raise. The district is also planning to use the money for increased security measures and to maintain educational programs.
BISD will now be able to increase the maintenance and operations (M&O) fund and generate the $13 million it needs.
The district’s Chief Financial Officer Cheryl Hernandez previously told 12News that BISD was asking voters for permission to lower the interest and sinking (I&S) fund, which can only be used to pay off the school's debt.
"We've been decreasing debt which is paying it off early and we'll still be able to make our debt payments, but decreasing that tax rate and moving it to the other side, it increases the tax rate to more than the board can legally adopt without voter approval," Hernandez said.
This means that if the district increases the M&O fund, $13 million can be used to enhance educational operations.
BISD trustees already adopted a tax rate that is 2 cents lower than it was last year. The district assures voters that their tax rate is being lowered.
However, if your home's appraised value went up you may still pay slightly more than last year.
