LUBBOCK, Texas– The Lubbock ISD Board of Trustees announced on Thursday morning a reduction in the property tax rate.
The rate will be seven cents lower per $100 of a value, said a spokesman for Lubbock ISD.
According to Lubbock Central Appraisal District, the average single family residence is valued at $154,491.
EverythingLubbock.com analyzed the numbers and found that a drop of seven cents per hundred would have an impact of roughly $108 on the average single-family residence. (The $108 does not take into account higher average valuations from one year to the next.)
Lubbock ISD stated the reason for the decrease is because the state legislature allocated more money for the school district.