This week, the Argyle ISD Board of Trustees unanimously approved calling a Voter-Approved Tax Rate Election for the Nov. 5 General Election.
If approved, AISD’s School Funding Referendum would generate approximately $2.5 million to address budget priorities including teacher and staff pay raises, providing campus support positions and addressing increasing class sizes for the future, according to a district news release. This referendum includes a 7.7-cent tax increase to the Maintenance & Operations (M&O) tax rate, which would be an increase of $385 for an Argyle ISD taxpayer with a taxable home value of $500,000. Property owners 65 and older with a homestead tax ceiling would experience no change to their taxes as a result of the election.
The M&O rate funds school district operations, instruction, staff, transportation, maintenance, and daily operating expenses. In contrast, the Interest & Sinking (I&S) fund, representing the other part of the district’s annual budget, is financed through bonds. Bond funds from the I&S budget cannot be used for operational costs such as teacher raises, rising utilities, increasing insurance costs, or other day-to-day expenses, according to the district.
“Argyle ISD, like most districts across the state, is negatively impacted by a lack of state funding,” the district said in a statement. “Due to this funding shortfall, the District has adopted deficit budgets for both the 2023-2024 and 2024-2025 school years. This shortfall is partly because the basic allotment per student has remained unchanged since 2019, while inflation has increased, reducing our ability to support teachers and staff effectively.”
With a budget deficit of $1.29 million, Argyle ISD currently can’t fund raises. The School Funding Referendum would allow the district to fund a mid-year 2% raise for all teachers and staff, according to AISD. The district last increased its M&O rate in 2012, when AISD voters approved a 10-cent Tax Ratification Election. Since the 2020-2021 school year, the M&O rate has been subject to annual compression. Argyle ISD will share informational presentations with staff and the community.
