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Fiscal budget approved, tax rate set

Aug. 28, 2023

The Elgin ISD Board of Trustees on Monday, Aug. 21 approved a balanced General Operating budget for 2023-24 fiscal year, in addition to setting the District’s 2023 tax rate. 

The property tax rate was decreased to $1.2257 per $100 valuation ­­– a drop of more than 18 cents over last year’s rate of $1.4111. To continue paying off past bonds issued for District improvements and additions, Trustees kept the Debt Service tax rate static at $0.4682 cents per $100 valuation, while lowering the Maintenance and Operations rate to $0.7575 cents per $100 valuation.

Student enrollment is projected to be at 5,800 students this school year, up from 5,404 last year. Enrollment was at only 3,995 in 2009-10. Based on spring demographic projections, Elgin ISD is anticipated to grow to over 10,000 students by 2030-31.   

Total General Operating revenue for the 2023-24 fiscal year is estimated at $61,644,000.