In 2007 Texas Legislators lowered maximum tax levy school districts could impose on property owners, promised no districts would lose money with a supplemental funding source; funding expires in 2017.
The Snyder Independent School District could lose an estimated $10.5 million in revenue in 2017 as a result of the expiration of the Additional State Aid for Tax Reduction portion of the state’s funding of schools. Snyder’s available revenue would fall from $26 million to about $16 million.
ASATR has existed since about 2007, after legislators lowered the maximum tax levy districts could impose on property owners from $1.50 per $100 assessed valuation to $1.04 per $100 assessed valuation. Legislators promised at the time that no districts would lose money from the decision and provided supplemental funding.
The Legislature, however, decided in 2011 to cap that fund at 10 years leaving districts like Snyder with little choice but to cut 30 percent of its budget.
Read more at Abilene Reporter-News | Timothy Chipp (Photo: Snyder ISD)