Independent school districts around North Texas are beginning to prepare for their next fiscal budget, but some districts in the area could get less funding than they hoped for.
According to the Allen American, Allen ISD passed a resolution protesting the comptroller’s 2022 property value study. The Collin County Appraisal District values Allen ISD at around $19 billion. But a state assessment valued Allen ISD at around $2 billion higher — meaning the state will not have to give Allen ISD as much funding.
Government Code Section 403.302 requires the comptroller’s office to conduct a school district ratio study at least once every two years to determine the total taxable value of property in every school district.
The Allen American explained that when a district is appraised, if the county appraisal and state comptroller’s numbers are within a 5% margin, the district can base its taxes and budget on the local appraisal. But, because the comptroller’s valuation values the district 10% more than the county, the local value is nullified.
“The 2022 tax year was unlike anything we have ever seen before, and certainly not in my 20 years here at Collin County Appraisal District,” Deputy Chief Appraiser Brian Swanson said in a statement. “We are not alone in this fight, as it happened all across the state of Texas with increases in market value of between 20-30% which were rampant across Collin County as well.”
Allen ISD does not believe they are the only North Texas district to be undervalued. Other districts whose local valuations were deemed invalid by the state include Anna ISD, Celina ISD, Frisco ISD, Lovejoy ISD, McKinney ISD, Melissa ISD, Plano ISD, Princeton ISD, Prosper ISD and Wylie ISD.
“Our job now is to comb over the sales and data from the state and determine what they missed and what needs to be corrected,” Swanson said.