Valley View ISD's Tax Rate
is currently $1.12. If you add the 32 cents that Valley View ISD says they will need to make the bond payments to that, you are at a $1.44 which would be the highest school tax rate in Cooke County and the highest tax
rate of any entity in Cooke County. That is almost a 30% increase. If you add another 21 cents for phase 2, that would
be a total of $1.65 per $100 valuation or almost a 50% tax increase. Whitesboro
ISD currently has the highest tax rate at $1.40 although most of their district is in Grayson County.
For a $100,000 homestead in Valley View's
taxing district, you can deduct a $15,000 exemption. Only $85,000 is taxed. A 32 cent tax increase on a value
of $85,000 = .32 * 85,000/100 = $272 each year for 25 years. Over 25 years, if values stay
the same, the cost of the bond is $6,800 for that $100,000 homestead. Even if they change/go
up, unless a lot of new homes are built, you will probably pay the same amount or higher, you may just pay
a slightly lower rate on a higher value to generate the same shared bond payment. On
an annual basis, your school taxes would increase from $952 to $1,224 a year. If your homestead
is worth $200,000, you only get the $15,000 deduction once so you would pay an additional $320 on the second
$100,000 of value and an additional $8,000 over the 25 year life of the proposed bond for a
total of $14,800 for a $200,000 home.
If you have rental property, oil & gas, agriculture
or business property, you don't get the homestead exemption. If the property is assessed at $100,000, your taxes
would go up $320 a year or $8,000 over the life of the bond. On an annual basis, your school taxes would increase from
$1,120 to $1,440 a year.
It is our understanding
that seniors with an over 65 exemption may not see a tax increase on their homestead if they are already paying at their cap
but they would pay the added tax on any other properties they might own. Several seniors are paying below their cap
as their property valuation has dropped over the past five years so they are paying less school tax than the cap that was
established when they turned 65.
believe that this campus renovation is too expensive and too much of a burden to Valley View taxpayers. Most taxpayers
already saw a 2% reduction in their paychecks due to the social security tax rate going up 2% in January. We know for
many, raises are few and far between and many have seen their household incomes go down in the last five years.
We believe that Mr. Stokes, the principals and school board
should go back and take a hard look at the priorities. It appears they want at least 16 new classrooms. Valley
View ISD already added about a dozen classrooms for the middle school a few years ago and we are still paying the bond on
that building to the tune of 8 cents in the tax rate. As best we can tell enrollment has increased a total of 11 students
from 2001. If they've already added a dozen or so classrooms, why do they need at least 16 more classrooms when
enrollment is growing one student a year, on average?
We understand the needs for safety and security for the students. We would like to see some lower cost
alternatives to improve this. We don't believe a $21.5 million campus renovation is justified. Divided by
700 students, (we understand Valley View ISD's current enrollment is below 700) , that is more than $30,000 per student
in facility upgrades. That is a lot of money per student. Their parents might think they have a better way to
spend that money rather than contribute it for taxes.
We also believe that any transfer students whose parents live outside Valley View should pay an equal share
of any facility improvements if local taxpayers are going to be asked to increase the tax rate.