VISD Proposes a Tax Increase to Continue Harvey Repairs
New VISD Superintendent, Dr. Shepherd presents some details of the issues the district faces after hurricane Harvey.
“The district has taken on just over 6 million dollars in expenses in trying to make our buildings habitable for our students.” says Dr. Shepherd.
VISD reported a fund balance of over 11 million dollars in August of 2017, however after Harvey struck $5,970,865 were used in expenses to keep students in class. A total of $1,177,224 were reimbursed by insurers and FEMA, leaving a loss of $4,793,641 for VISD.
“Because we’ve dipped into our fund balances and largely depleted our funds we’re looking at a tax increase” says Dr. Shepherd.
This proposed tax increase would be of 13 cents, and if approved, the tax will make a revenue of over $5 million dollars for the district.
“…what that allows us to do is to make up the difference that we’re not being paid from the insurance and FEMA as we await those payments” he says.
As VISD waits for payment an estimated total amount of expenses has been calculated.
“We anticipate that that’s going to work its way closer to $10 million by the time we fully recover” adds Dr. Shepherd.
If approved, the tax increase will applicable for only one calendar year, and will appear by the next tax bill, payable by January 2019.
Dr. Shepherd adds that another public forum will be set to answer questions next Monday, July 30th. These forums are set up to answer any and all questions taxpayers may have. The final budget and decision on the tax increase will be made August 23rd.
For anyone that is unable to attend the forum or wishes to submit a concern they can do so by visiting https://my.thoughtexchange.com/#863810706