COLDSPRING — In order to make up for budgeting shortfalls, the Coldspring-Oakhurst CISD Board of Trustees have given the green light to a Voter Approval Tax Rate Election, which will appear on the Nov. 5 ballot.
According to information provided by the COCISD website, VATRE asks voters to approve a tax rate to keep current pay levels for staff while maintaining instructional and extracurricular opportunities.
Additionally, it would allow COCISD to receive additional revenue from the state.
The new tax rate would generate an estimated $1,185,726 in additional funds, and the total tax rate will remain 14 cents below the 86-cent-per-$100 valuation average tax rate of the last five years.
If the VATRE passes, it will put the COCISD tax rate for maintenance and operations at .7275, up from the current .6975. These three additional pennies are considered Golden because the state's contribution goes from 12 to 34 percent.
More information, as well as an impact calculator that will help determine the actual tax impact on a specific home value, can be found at https://www.cocisd.org/vatre.
Also at the Sept. 23 meeting of the Board of Trustees, members approved its local investment policy and strategies, as well as the district improvement plan.
At the meeting, it was announced that Homecoming will be held Oct. 18, and the fourth annual trunk or treat is set for 6-8 p.m. Oct. 29 at the high school.
