LUBBOCK, Texas — During a Thursday morning meeting, the Lubbock ISD Board of Trustees approved a new, lower tax rate for the 2020-2021 fiscal year, but it would raise more taxes for maintenance and operations due to increased property values.
Read the full release from Lubbock ISD below:
At this morning’s board meeting and workshop, the Lubbock Independent School District Board of Trustees set the district’s tax rate for the 2020-2021 fiscal year.
The adopted tax rate is $1.1514 per $100 of assessed valuation. The rate is a $0.0136 reduction from the 2019-2020 rate of $1.165. However, the adopted rate will raise more taxes for maintenance and operations compared to the 2019-2020 rate due to an increase in property values. The tax rate will effectively be raised by 3.86 percent and will increase taxes on a $100,000 home by approximately $36.30 for maintenance and operations.