Canyon ISD Proposes Tax Rate Election

Posted Date: 09/12/2024

Canyon Independent School District (CISD) is seeking community support for a Tax Rate Election (TRE). This proposal is focused on addressing the priorities identified by our community and outlined in our Strategic Plan for the next 3-5 years.

Following last year’s 21-cent decrease in the tax rate, Canyon ISD is proposing a 3-cent increase to the district’s maintenance and operations tax rate, which would bring the proposed tax rate to $0.9577. If approved by voters, this tax rate would generate approximately $2.1 million in local funding and also allows the district to access nearly $2.9 million of additional state funding each year.

Canyon ISD has experienced significant growth, with more than 11,500 students enrolled this year. As our district grows, so do the demands on our schools, teachers, and resources. If approved, the tax rate election would provide approximately $5.1 million to Canyon ISD ($2,166,011from local taxes & $2,933,564 annually from the state) which would provide the funding to:

• Increase safety, security and armed officers at all campuses

• Support and maintain all student programs

• Retain a competitive compensation plan and quality workforce

• Buses for additional bus routes to accommodate for growth in enrollment

• Manage all inflationary costs, especially insurance and utilities

Be Informed

We invite all community members to learn more about the tax rate election. CISD will host informational sessions across the district to provide details and answer any questions. You may find more information at canyonisd.net/tre

Voting Information

The tax rate election will be on the ballot in the upcoming election on Tuesday, November 5th, 2024. To see ballot language, early voting information, and election day voting locations, head to canyonisd.net/tre.

For more information on the tax rate election, please visit canyonisd.net/tre. We encourage everyone to reach out with any questions or for further information.

Additional Information:

• Will taxes increase for citizens 65 and older?
  No, school taxes will remain frozen and will not increase for citizens 65 and older who have applied for and received the Over 65 Exemption. Once you qualify for this exemption, your school taxes are capped at the amount you paid the year you qualified. Even if the TRE passes, their taxes will remain below this "tax ceiling," ensuring no increase.

• What is a Tax Rate Election (TRE)?
  State law requires that school districts seek voter approval to raise their tax rate above a prescribed amount. CISD is asking voters to consider a 3-cent increase to the district's maintenance and operations (M&O) tax rate, which funds daily operations like salaries, student programs, and utilities.

• Will my tax rate go up if I vote for the TRE?
  The 2024 CISD tax rate is $0.93. The proposed 2025 rate is $0.9577, which reflects the 3-cent increase.
  For an average home valued at $304,130, after applying the $100,000 homestead exemption, the taxable value is $204,130. Homeowners with this value would see an annual tax increase of $56.54, or about $4.71 per month.
  Note: Homeowners over 65 will not see an increase in their school taxes.

• What additional funds will the district receive if the TRE passes?
  If approved, the district will receive $2,933,564 in state funds annually, while local property taxes will raise approximately $2,166,011 in 2025.

• Canyon ISD’s tax rate is currently the lowest it has been in 12 years. 

This is what will appear on your ballot in November: