KILLEEN, Texas — The Killeen Independent School District announced proposed lower taxes with the 2020 budget Thursday.
The district said $426 million bond voters passed in 2018 will cost taxpayers less than expected, and district superintendent Dr. John Craft and KISD chief financial officer Megan Bradley sold the remaining $126 million in bonds.
As a result of state legislation in House Bill 3, the district's general fund was reduced from $1.04 to 97 cents.
Thursday's bond sale reduced the district's debt service, which is used to pay debt for longer-term capital improvements that voters approve in bond elections, from 22 cents to 19 cents, KISD said.
The district's tax rate will also be reduced from $1.26 to a little more than $1.16. The reduction translates to around a 10 cent decrease per $100 assessed property value.
"We had another incredible bond sale allowing additional savings to our taxpayers in the future," Superintendent Dr. John Craft said.
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