Tyler ISD Approves Budget: Homeowner Savings, Staff Raises

**Tyler ISD Adopts $264.4 Million Budget, Boosts Homestead Exemption for Homeowners**

**TYLER, Texas** – The Tyler ISD Board of Trustees officially adopted its 2024-2025 budget totaling $264.4 million on Wednesday, June 18, 2024. The approved budget maintains the current tax rate of $1.0963 per $100 valuation, consistent with the 2023-2024 rate. However, homeowners will see significant savings due to an increased Homestead Exemption.

The district's Homestead Exemption has been raised from 10% to 20% of the appraised value of a home. Additionally, the minimum exemption has increased from $25,000 to $40,000. This change is projected to save homeowners across the district over $12.5 million collectively this year. For example, an owner of a $200,000 home in Tyler can expect an annual saving of approximately $219.26.

The new budget allocates resources to key areas, including a 3% raise for teachers and staff, calculated on the midpoint of their pay scale. Other priorities include maintaining current staffing levels, investing in instructional support, upgrading technology infrastructure, and strengthening safety and security measures across the district.

Tyler ISD faces ongoing financial challenges due to stagnant state funding. The Texas Legislature has not increased the basic allotment per student for public schools since 2019, despite operating costs for districts like Tyler ISD jumping by over 20% in the same period. This discrepancy has created an estimated $33 million funding gap for the district over the last five years.

The formal adoption of the tax rate will occur later in the year, likely in September 2024, after the district receives certified property values. For more information about Tyler ISD and its financial operations, visit the official website at https://www.tylerisd.org.