The Canutillo Independent School District Board of Trustees on Tuesday night approved a four-cent decrease to its tax rate for the 2022-23 fiscal year.
Trustees on Tuesday approved a tax rate of $1.30 per $100 home valuation. The tax rate for the 2021-22 school year that ended last June was $1.34 cents per $100 home valuation. For the average home in the District, valued at $223,258, the annual school tax bill under the approved tax rate is $2,382. A home of that value would have paid school taxes of $2,657 per year.
“Canutillo ISD is working arduously to be fiscally responsible to its taxpayers and still maintain its vow to give our students a world-class education,” said Board President Sergio Coronado. “I am happy to be able to approve a tax rate that respects the contributions of our homeowners and celebrates the outstanding performance of our students and staff.”
Canutillo’s tax rate is made up of two formulas:
- The Maintenance & Operations tax rate, set at 94 cents per $100 home valuation. This tax rate pays for the day-to-day operations of the District.
- The Interest & Sinking tax rate, set at 36 cents per $100 home valuation. This tax rate pays for the District’s debt service.
The Board in May approved an $80.9-million budget for the 2022-23 school year that provided employees in the District with a 3 percent salary increase.