During a press conference last Thursday afternoon (watch it here), Gov. Abbott, Lt. Gov. Patrick, and House Speaker Bonnen shared that public school financing and associated school taxes are changing!
HB 3 is a GO! While the G/T per student allotment will be discontinued, the bill was an overall victory as it transforms school education funding and lowers property tax rates across the state. This means:
The amount a district receives for each student (PUA) increases by about $1,000 per student.
Districts will no longer be funded based on district wealth as measured by property taxes.
Lower school tax rates beginning in 2020.
Individual school tax rate growth capped to 2.5% a year.
District recapture payments to the state reduced by approximately 47%.
Veteran (6+ years of service) teachers, counselors, librarians, and nurses should see an average of $4,000 increase to their compensation package, with additional opportunities for incentive and bonus pay schemes.
The Teacher Retirement System has been reformed to ensure longevity and sustainability so that all teachers can be confident in their pension.
Access to full-day pre-K for low-income students.
Increase to funding allotments for dyslexic students.
AND MORE. Since this is the last Tiger Beat of the school year, we suggest following updates from a reliable source like the Texas Tribune.
What a momentous end to this school year and to a broken school funding system. Thanks to each of you who took the time to be part of the process by contacting their elected representatives. This is a HUGE success for our state!