Pasadena ISD Board votes to lower tax rate
The August 23, regular board meeting for Pasadena ISD brought some relief for Pasadena ISD taxpayers. The Board voted to approve a proposed tax rate of $1.33530 per $100 value for the 2022-23 school year. This approval reduces the tax rate from the previous year by $.0459 per $100 value.
What does this mean for the taxpayer?
Under the new tax rate, the owner of a home valued at $200,000 would pay about $1,869 in property taxes for Pasadena ISD. This translates to a savings of about $64 from the FY 2021-22 tax rate of $1.3812.
In late July, the Pasadena ISD received the certified taxable values from the Harris County Appraisal District. Those values were reported to the Texas Education Agency who in turn approved the maximum compression tax rate Pasadena ISD could apply.
“The state mandates that any 2.5% increase in property values must result in a reduction in the district’s tax rate,” said Pasadena ISD Chief Financial Officer, Ben Pape.
According to Pape, taxable property values increased 12% to $19.5 billion from last year’s $17.4 billion.