Canutillo ISD adopts lower tax rate for Fiscal Year 2024

The Canutillo Independent School District Board of Trustees on Tuesday adopted a fiscal year 2024 tax rate of $1.1552 per $100 valuation – a half-cent reduction from the tax rate set last year.

 

The approved tax rate is lower than the rate approved last year. However, because the El Paso Central Appraisal District valuated homes at a higher rate this year, the average homeowner could see an increase in their school tax bill.

 

“We continue to be good stewards of the taxpayers in Canutillo, and our tax rate continues to decrease because of the unprecedented growth our community is experiencing,” said Superintendent Dr. Pedro Galaviz. “We had anticipated a slight increase in the tax rate because of the passage of the Bond in May, but fortunately we were able to bring to the board a slight decrease.”

 

Last year’s tax rate was $1.1605, which is $0.0053 higher than the approved tax rate for this fiscal year.

 

The average value of a Canutillo ISD home – a figure set by the Central Appraisal District and not the school district – increased from $257,416 to $282,482. That means the average school tax bill in the district increased by $281 this year because of a higher average home valuation.

 

For comparison, the Fiscal Year 2024 tax rate on an average home valuation from last year would yield $1,818.47 in school taxes – about $8.34 less than it did last year.

 

The school taxes are used for the cost of operating schools, including school programs, teacher salaries and health insurance and the maintenance of all campuses.

 

Trustees earlier this summer approved an operating budget for Fiscal Year 2024 of $89.1 million.