Princeton Independent School District trustees approved a total budget of $56.8 million for fiscal year 2018-‘19 that is $3.4 million more than the prior year.
Trustees voted on the budget and property tax rate Monday, Aug. 20.
The tax rate remains at $1.62 per $100 assessed valuation, broken down as $1.17 for maintenance and operations plus 45 cents for debt service. Property values in the district increased 25 percent over the past year and now total $1.23 billion. Most of the increase is attributed to new construction.
PISD will receive $20 million in property tax revenue, $14.4 million for operations and $5.5 million for debt service.
By Joe Reavis • Staff Writer • [email protected]
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