The Highland Park ISD board of trustees Aug. 16 approved the district’s budget for the 2022-2023 school year.
The district approved a tax rate of $1.0778 per $100 valuation ($0.9078 for maintenance and operations and $0.1700 for interest and sinking, the payment of principal and interest on debts). This marks a decrease in the district’s maintenance and operations tax rate of 5.32 cents from last year’s tax rate, and a 16-cent decrease over the last four years.
“During our presentations to the community about the Golden Penny election last year, we conservatively estimated that the tax rate would decrease 2 cents this year,” HPISD Board President Tom Sharpe said. “In actuality, the tax rate will decrease even more. While we recognize that property values have increased during the last year, the decrease in the district’s tax rate should provide some relief to property owners.”
The total approved budget for the 2022-23 school year for Highland Park ISD is $177,280,833. A total of $104,205,389 will be sent back to the state as recapture, according to the district, leaving the district with operating expenditures of $73,075,444.
“Because of these Recapture payments, HPISD has had to utilize every available option to support its overall budget. Our budget this year was boosted significantly by approval of the Golden Penny election last fall, which has allowed compensation for staff to increase by a total 8% over the last 2 years,” Superintendent Dr. Tom Trigg said. “This salary increase is helpful to our efforts to recruit and retain qualified staff in HPISD.”