Spring Branch ISD property tax rate drops for third straight year

For the third year in a row, the Spring Branch ISD property tax rate is down.

The Board of Directors approved a rate of $1.3043 per $100 of valuation, a decrease of $0.003 from the rate for the previous year.

Christine Porter, Spring Branch ISD associate superintendent for finance, attributed the decrease to two main reasons, the property tax relief measures that were part of Bill 3 passed by the Texas Legislature in 2019 and the 2.8% increase in property values.

The tax rate increased from $1.39450 in fiscal years 2010 to 2019 to $1.32098 in fiscal year 2020 to $1.30730 in fiscal year 2021 at the newly approved rate of $1.3043 for fiscal year 2022.

“As a local realtor in the area, I’m always happy to see a lower tax rate,” said J. Carter Breed of J. Carter Breed Properties. “It helps the whole community.”

Breed is a member of the Spring Branch ISD board of directors, but spoke only in his capacity as a real estate broker.

All of these declines came as a result of the passage of House Bill 3.

“We appreciate lawmakers providing the opportunity to provide this relief,” Porter said.

She expects the tax rate to continue to drop as long as the state continues to provide the same relief.

Even if the property tax rate decreases, the amount of money the district receives through property taxes will increase by more than $7.6 million due to the increase in value from $333,896,822 to $341,509. $670.

The decrease of 0.3 cent comes from the maintenance and operation portion of the property tax rate, which goes from $1.00280 to $0.999800.

The interest and amortization portion of the property tax rate that is used to pay off debts and bonds remains the same at $0.30450.

About half of the school districts in the Greater Houston area provide a homestead exemption, which is a reduction in property tax if that property is used as the filer’s principal residence. The Spring Branch ISD Homestead Exemption is 20%.

“I am pleased that SBISD is continuing to provide an ownership exemption as it is another form of relief for taxpayers,” Breed said. “This makes our region, our neighborhood more desirable. “

Due to the combination of the low property tax rate and homestead exemption, Spring Branch is among the lowest property tax bills for a property valued at $500,000 of any school district in the city. Greater Houston area.

That $4,891 bill is lower than 17 area school districts, including Fort Bend ISD, Katy ISD and Cy-Fair ISD and higher than just Houston ISD and La Porte ISD.

Spring Branch ISD’s total budget for fiscal year 2022 remains roughly the same, going from $359,449,557 to $360,746,815.

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Penny D. Jackson