There are two sides to the VVISD tax rate. The Maintenance & Operations (M&O) tax rate is $1.014. M&O revenue pays for salaries, utilities, routine maintenance, and other day-to-day operations. The State regulates what the district receives and can keep from M&O funds. When local property values increase, the state reduces its payment to the school district.
VVISD's current Interest & Sinking (I&S) tax rate is $0.00. The revenue from this tax is what the district would use to pay for this bond program. By law, I&S revenue can only be used for capital improvements and cannot be used for reoccurring expenses such as salaries and utilities. All the revenue generated from this tax rate stays in VVISD and cannot be recaptured by the State for redistribution to other school districts or state expenditures.
Copyright © Van Vleck Independent School District 2017. All rights reserved.