AISD reduces tax rate by just over 3 cents

AISD reduces tax rate by just over 3 cents
Posted on 08/27/2020
AISD reduces tax rate by just over 3 cents

AISD reduces tax rate by just over 3 cents

 

Toni Garrard Clay

AISD Communications Coordinator

 

The Athens ISD Board of Trustees voted unanimously during the August regular meeting to reduce the maintenance and operations portion of the school district’s property tax rate by 3.33 cents per $100 of property valuation.

 

“As has been the case across the state, we’ve seen property values in our taxing district increase. In response to that, we've been able to compress our overall tax rate,” explained AISD Chief Financial Officer Randy Jones. “This reduction is a positive for our taxpayers.”

 

The AISD tax rate consists of two components: the maintenance and operation (M&O) rate and the interest and sinking (debt service) rate. While the debt service rate remains the same, the M&O rate dropped from 0.97 per $100 valuation in 2019 to 0.9365 for 2020. The combined tax rate is now $1.33559 per $100 valuation.

 

“The reduced M&O rate is a result of recent legislation passed in no small part thanks to the work of lawmakers such as our own State Rep. Keith Bell,” said AISD Superintendent Dr. Janie Sims. “We’re all facing economic uncertainty as a result of the pandemic, and I’m grateful we’re able to pass along a compressed tax rate to our AISD families.”

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