[00:00:04]
[1. Call Meeting to Order]
I WOULD LIKE TO CALL TO ORDER A SPECIAL MEETING OF THE BOARD OF TRUSTEES OF FRISCO ISD.WE WILL BEGIN WITH AGENDA ITEM TWO.
[2. Reconvene in Open Meeting]
WHERE WE ARE IN AN OPEN MEETING.MOVING TO AGENDA ITEM THREE WILL BE COMMUNICATION TO AND FROM THE BOARD, INCLUDING PUBLIC COMMENT.
WE DO NOT HAVE ANYONE SIGNED UP FOR PUBLIC COMMENT, SO WE WILL MOVE TO ACTION ITEM FOUR.
[4.A. Consider and act on approval of a Resolution Canvassing the Returns and Declaring the Results of a Bond Election and Voter Approval Tax Ratification Election]
FOUR A CONSIDER AND ACT ON APPROVAL OF THE RESOLUTION CANVASSING THE RETURNS AND DECLARING THE RESULTS OF A BOND ELECTION AND VOTER APPROVAL TAX RATIFICATION ELECTION.WITH THAT, I'LL LOOK FOR A MOTION.
ELECTIONS IN COLLIN AND DENTON COUNTIES.
SECOND. MOTION BY MR. MADDOX. SECOND BY MRS. ELAD. BOARD, ARE THERE ANY QUESTIONS AT THIS TIME? IF THERE ARE NONE, I'LL LOOK FOR A VOTE.
[4.B. Consider and act on 2024-2025 Tax Rate Resolution ]
WE'LL MOVE TO ACTION ITEM FOUR B, CONSIDER AND ACT ON THE 2024-25 TAX RATE RESOLUTION.I MAKE A MOTION TO CONSIDER THE PROPERTY TAX RATE BEING VOTED ON TODAY REPRESENTS A DECREASE IN THE TAX RATE OF 0.23 CENTS PER $100 VALUATION FROM LAST YEAR'S ADOPTED TAX RATE.
IT ALSO REPRESENTS A DECREASE IN THE TAX RATE OF 2.94 CENTS PER $100 VALUATION FROM THE TAX RATE THAT THE BOARD ADOPTED IN AUGUST, PRIOR TO THE VOTER APPROVAL TAX RATE ELECTION. HOWEVER, THE PROPERTY TAX CODE REQUIRES US TO MAKE A MOTION STATING THAT THE TAX RATE IS INCREASING IF THE ADOPTED RATE WILL GENERATE MORE TAX REVENUE THAN THE YEAR BEFORE, EVEN IF THE INCREASED REVENUE IS DUE TO RISING PROPERTY APPRAISAL VALUES RATHER THAN AN INCREASE IN THE ADOPTED TAX RATE NUMBER. ALTHOUGH THE TAX RATE NUMBER IS ACTUALLY DECREASING SLIGHTLY FROM THE LAST YEAR, FRISCO ISD IS EXPECTED TO GENERATE MORE TAX REVENUE DUE TO RISING APPRAISED VALUES.
BECAUSE OF THE WAY THE SCHOOL FUNDING FORMULA WORKS WITH STATE RECAPTURE.
THE DISTRICT WILL NOT GENERATE MORE OPERATING REVENUE PER STUDENT BY ADOPTING THIS TAX RATE.
UTILIZING THE LANGUAGE REQUIRED BY STATUTE, I MOVE THAT THE PROPERTY TAX RATE BE INCREASED BY THE ADOPTION OF A TAX RATE OF 1.0252 PER $100 VALUATION, WHICH IS EFFECTIVELY A 5.86% INCREASE IN THE TAX RATE. SECOND.
MOTION BY MRS. SALAS. SECOND BY MR. MADDOX. BOARD, ARE THERE ANY QUESTIONS AT THIS TIME? MRS. ELAD? I WAS JUST WONDERING IF SOMEONE COULD EXPLAIN KIND OF THE REASON FOR DOING THIS BECAUSE I THINK IT MIGHT BE IMPORTANT FOR THOSE PEOPLE WATCHING, LIKE THE PURPOSE OF WHAT THIS IS INTENDED TO ACCOMPLISH.
I DON'T KNOW WHY YOU WOULD NEED TO EXPLAIN THAT.
[CHUCKLING] I DON'T KNOW, CALL ME CRAZY.
I WOULD BE HAPPY TO EXPLAIN THAT.
YOU ALL ADOPTED A TAX RATE IN AUGUST THAT REQUIRED A VOTER APPROVAL TAX RATE ELECTION.
SO NOW, IN ORDER TO MAIL OUR TAX STATEMENTS AND COLLECT TAXES FOR THIS YEAR, WE NEED TO ADOPT THE WHAT USED TO BE CALLED THE ROLLBACK RATE OR THE RATE THAT IT DEFAULTS BACK TO.
SINCE VOTERS DID NOT RATIFY THE HIGHER TAX RATE.
SO THAT IS WHAT YOU GUYS ARE DOING.
SO THIS TAKES IT BACK TO THE EXISTING TAX RATE.
IT'S NOT THE EXISTING TAX RATE.
IF THERE ARE NO FURTHER QUESTIONS I WILL LOOK FOR A VOTE.
I'D ALSO LIKE TO NOTE FOR THE RECORD, THAT MR.
[00:05:02]
GOPAL PONANGI IS TRAVELING OUT OF THE COUNTRY AND WILL NOT BE PRESENT WITH US TODAY.IT IS NOW 4:35 AND WE ARE ADJOURNED.
* This transcript was compiled from uncorrected Closed Captioning.