ROISD 2022-23 TAX RATE-District Reduces I&S Rate

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Overall, the ROISD tax rate has been reduced by over 19% over the past four years.

The approved 2022-23 tax rate is being reduced again. The adopted budget in June reduced the M&O rate, and now, after receiving the certified property values by Ellis County, the District is also reducing the I&S rate.

The Red Oak ISD total tax rate was reduced from last year’s rate of $1.3256 to $1.2910 per $100 of certified property value. The decrease included reductions in maintenance and operations (M&O) and interest and sinking (I&S) rates. The I&S reduction was established following the certified property values provided by Ellis County in July and concerns from citizens.

ROISD Tax Rate – M&O – I&S – Total
2021-22 – $0.9603 – $0.3653 – $1.3256
June – $0.9429 – $0.3653 – $1.3082
M&O reduced $0.0174
August – $0.9429 – $0.3481 – $1.2910
I&S reduced $0.0172
Total reduction of $0.0346

Overall, the ROISD tax rate has been reduced by over 19% over the past four years. The approved M&O tax rate is at the lowest compressed rate authorized by TEA. Any further reductions would result in additional loss of state funding, and the inability to adjust the M&O for increases in salaries, additional staffing needs, or other expenses.

“While we are continuing to pay off previous District bonds for schools, we are also keenly aware of the financial issues in our community,” stated Superintendent Brenda Sanford. “We have a low debt service ratio and felt it was important to try and add some additional savings to our taxpayers.”

“We know some will say it is still not enough, but we must also raise the bar of our academic standards – a goal which increases expenditures, especially when it comes to hiring and retaining the highest level of educators for the classroom,” Sanford added. “We have increased salaries, added bonuses, incentives, and increased benefits to recruit and keep our highly qualified staff. We are also anticipating an additional 300-400 students this year across the district, which will mean the hiring of additional staff to transport, feed, and educate our new Hawks.”

“The property value increase means a decrease in state funding of over $2 million for the district. That’s the balance we keep mentioning – as we gain in property tax revenue, we lose in state revenue,” added Superintendent Sanford.

“We value our taxpayers and are fiscally responsible with the funds we are given. Red Oak ISD will continue to watch every penny and seek cost savings to further increase staff pay and provide savings to our taxpayers,” Sanford concluded.

The maintenance and operations budget funds daily costs and recurring or consumable expenditures, such as teacher and staff salaries, supplies, food, gas, and utilities. The I&S fund is used to repay debt for longer-term capital improvements approved by voters through bond elections.

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