The Princeton Independent School District plans to spend $144.6 million for the 2024-2025 school year after trustees adopted a new budget increasing expenditures by 15.36%.
Jona Boitmann, assistant superintendent of finance, said 63.6% of the expenditures would be for instruction.
“You know, as we say every year, more kids equal more revenue. But it also means more expenses,” she said.
The property tax rate in the district will be down a fraction of a penny at $1.2552 per $100 valuation, compared with $1.2575 last year, but the total PISD tax bill will be up.
The school board adopted the rate at its regular Monday, Aug. 19, meeting after Boitmann said the tax rate was based on total taxable value of $4.86 billion released July 25 by the Collin Appraisal District (CAD).
While the average market value of homes in the district decreased this year from $334,799 to $331,561, the average taxable value of residences increased from $195,026 to $214,278, CAD reported, meaning the PISD tax bill on the average residence will be $237 higher.
Six candidates filed for three positions on the school board by Monday’s deadline: incumbents Carlos Cuellar and Duane Kelley as well as Terry Gilmore, Mike Talley, Dana Jones and Bianca Washington. Trustee Bob Lovelady did not seek re-election.
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