The Harlingen Independent School District Board of Trustees approved a new tax rate of $1.219 per every $100 in property valuation during their regular meeting on September 14.
The increase of about 8.3 percent, 9.4 cents more than the previous tax rate of $1.125, came after voters passed the 2010 $98.6 million bond initiative in May 2010.
“This was a tremendous victory for our tax payers,” Superintendent Dr. Steve Flores said. “It is a priority of this district to exert fiscal responsibility and we will continue to do so as we move forward with our bond projects.”
During the election, the district estimated the tax increase to be 9.7 cents for every $100 in property valuation. However, school district officials were able to obtain a lower than expected interest rate for the bonds the district sold last month.
HCISD obtained an overall interest rate of about 3.389 percent for its bond program.