Poteet ISD board sets property tax rate at 1.2349 to cover recent bond debt

The Poteet ISD board voted to set the district's property tax rate at 1.2349, a package that combines a maintenance-and-operations rate of 0.7549 and an interest-and-sinking (I&S) rate of 0.4800 to cover debt service tied to a recent bond issue.

"The total proposed rate, you combine the two, and it's 1.2349," the presenter said while reviewing tax-rate components and reminding trustees that the rate remains under an earlier community projection of 1.2422. Staff explained the 0.48 I&S recommendation reflected a $10,000,000 bond issuance and the district's financial adviser's guidance.

Because the proposed I&S rate exceeds the voter-approval table's computed minimum (listed in staff materials as 0.4327), staff cited changes under the referenced legislation and explained the additional board actions required. The presenter referenced the property tax code and Senate Bill 1453 as the statutes and rules that trigger a supermajority threshold and an explicit statement of the minimum rate, the proposed rate and the purpose for the excess revenues (lawful debt-service purposes). A motion to adopt the tax rate was seconded and approved on voice vote with no opposed recorded.

The adopted ordinance sets the new rate for the 2026-27 tax year and notes additional revenue generated by the proposed I&S rate will be used for scheduled and anticipated debt obligations, per staff recommendation.