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Central Texas Local News | kcentv.com

Killeen ISD announces proposed lower taxes with 2020 budget

"We had another incredible bond sale allowing additional savings to our taxpayers in the future," Superintendent Dr. John Craft said.
Credit: 6 News

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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