The Allen ISD Board of Trustees adopted a tax rate of $1.4325 for the 2020-2021 school year at its Sept. 28 meeting. This new rate is approximately 2.6 cents lower than last year’s rate. The school district’s tax rate has been lowered by a total of 23.75 cents over the past seven years.
The total tax rate is comprised of the maintenance and operations (M&O) rate and the interest and sinking (I&S) tax rate. For 2020-2021, the M&O rate will be lowered to $1.0225, and the interest and sinking (I&S) tax rate will remain at $0.41.
For the average residence in Allen ISD, this new tax rate will result in a decrease in the amount of property tax paid for the school district portion of the tax bill. Last year, the average market value of a residence in Allen ISD’s boundary was valued at $372,578 and increased to $374,902. Even with the increase in market value, the decrease in the Allen ISD tax rate would result in a smaller tax bill by $37.
“The Board of Trustees is committed to adopting a tax rate that assists our homeowners while simultaneously meeting the needs of our school district,” said Amy Gnadt, Allen ISD Board of Trustees President. “We are focused on reaching our district goals and hiring quality teachers and staff to support our students. At the same time, we strive to serve as good stewards of our tax dollars.”