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VATRE 2024

PISD Calls for VATRE to Access Golden Pennies with No Tax Rate Increase Compared to Previous School Years

The Board of Trustees met on August 15, 2024 and approved a new tax rate for the 2024-2025 fiscal year, which is crucial for maintaining the quality of education that Peaster ISD is committed to providing. The approved tax rate is as follows:

  • Total Tax Rate: $1.1664
  • Maintenance & Operations (M&O) Rate: $0.6969
  • Interest & Sinking (I&S) Rate: $0.4695

This rate reflects our commitment to addressing this district's budgetary needs while continuing to support the high standards of education that our students and families deserve.

Upcoming Voter-Approval Tax Rate Election (VATRE) 

In addition to approving the tax rate, the Board has also adopted an Order Calling for a Voter-Approval Tax Rate Election (VATRE).  This election, scheduled for November 5, 2024, will give our community the opportunity to vote on whether to approve a tax rate that exceeds the state-imposed revenue cap.

The VATRE is a critical tool for Peaster ISD.  It allows us to secure additional local revenue necessary to address budget deficits and ensure that we can continue funding essential operations, including salaries, utilities, and supplies.  If approved, this will help us avoid compromising the quality of education and services we provide to our students.

Read the Board of Trustees' VATRE letter here 

What are Golden Pennies

Golden Pennies refer to a specific part of the school district's tax rate that generates the most additional revenue.  Unlike other parts of the tax rate, the funds generated from Golden Pennies are not subject to state recapture, meaning all the revenue stays within the district. For PISD, accessing these Golden Pennies would generate an estimated $800,000 in state and local funding for the district's general operating budget.  

Key Funding Priorities 

Maintain Lower Class Sizes

PISD is dedicated to keeping class sizes small, enabling teachers to provide individualized attention and support to each student. By emphasizing smaller classes, our goal is to ensure that educators can address students' unique needs, enhance academic performance, and cultivate strong, meaningful connections between students and teachers.

Provide Educational Resources

PISD delivers a wide variety of student programs and experiences to enhance learning outside the classroom. With a selection of academic, extracurricular, and career & technology options, we give students the chance to pursue their passions, gain valuable skills, and cultivate a well-rounded education that equips them for success in the future.

Teacher and Staff Recruitment and Retention

At PISD, our greatest assets are our dedicated teachers and staff. Passage of the VATRE will provide additional funding that will allow PISD to continue to focus on teacher and staff competitive compensation. This allows the district to continue attracting and retaining highly qualified teachers and staff to educate students and provide essential support to the classroom.

Safety and Security

PISD is dedicated to ensuring a safe and secure environment for our students and staff.  We prioritize investing in essential safety upgrades to maintain our schools as safe spaces for learning.

FAQs

For questions or more information please email: vatre@peaster.net