Dear Vega ISD Community:
As we turn the calendar to October, our students enter into the final weeks of the first nine-week grading period. Preparations for the UIL Academic competitions are already underway. While the high school contest is not until the Spring semester, they are already gearing up to defend their district championship. The high school began its kick off campaign this week for students to sign up for the different events. The junior high and elementary schools have been working on their competition areas as well which will be held in November.
School pictures were last week and parents should have received an email link to view and order your student’s pictures from the photographer. Also last week was the District FFA Meeting for our FFA students. In addition, the junior high volleyball team defeated Wildorado and the junior high football team played a good game against Olton. The high school JV and Varsity volleyball teams traveled to Friona for their games, where the Varsity team split a dual match that went five games each against Friona and Portales. The Varsity football team continued to show grit and tenacity Friday night in their game against Olton. On Saturday, junior high and high school Cross Country teams traveled to Canyon on Saturday for their cross country meet while the JV and Varsity volleyball teams traveled to play a tough River Road team.
The Vega ISD school board is proposing an overall tax rate of $1.3555 ($0.8555 for Maintenance & Operations & $0.50 for Interest & Sinking). This overall tax rate is an increase by 12 cents per $100 property valuation. By fact, this would be the third lowest tax rate in the past 10 years and the second lowest M&O tax rate in the past 20 years. For a home that is valued at $200,000 (after the $100,000 homestead exemption the taxable value of the home would be $100,000) an approved VATRE would increase the taxes by $120 a year or $10 a month. Similarly, for a home that is valued at $300,000 (after the $100,000 homestead exemption the taxable value of the home would be $200,000) an approved VATRE would increase the taxes by $240 a year or $20 a month.
Because this tax rate exceeds the district’s no-new-revenue rate set by the state, the district must conduct a Voter Approved Tax Ratification Election (VATRE) in November. If approved, the proposed tax rate would result in over $500,000 in additional revenue for the District which would be used to fund the maintenance and operation of the district, which pays for educational programs along with faculty and staff salaries. If VATRE is approved, property owners 65 and older with a homestead tax exemption would experience no change to their taxes as a result of the election. If the VATRE fails, the District will not be able to adopt a tax rate above the no-new-revenue tax rate.
Over the past few weeks, we provided an overview that the district is facing budget shortfalls in part because of inflation and the state’s compressed tax rate. The costs of the district’s utilities, insurance, and fuel have increased by over $190,000 since 2018-2019, the last time the state increased the basic school allotment. What is the state of the District’s finances? The District adopted a $5,599,841 budget, most of which goes to pay salaries for teachers and staff. Vega ISD, like many districts in Texas, has adopted a deficit budget. If the VATRE passes, the projected revenue would be would be $5,341,567 (or a budget deficit of -$331,212; if the VATRE fails, the projected revenue would be $4,824,810 (or a budget deficit of -$847,969). In the Texas Education Agency’s Financial Integrity Rating System, Vega ISD received an “A” rating and a score of 100, the top score possible.
Our district will host a Public Meeting on VATRE on Monday, October 7, 2024 in the Vega ISD Auditorium. Please plan to attend to learn how VATRE impacts our school funding and tax rate and to be able to ask questions and provide input on this important decision.
If you have any questions, please do not hesitate to contact me. I would be glad to answer any questions you may have. If you have an organization or group who would like to set up a Q&A about the VATRE, please reach out to me and we would gladly make arrangements for you.
Thank you,
Jerry Adams
Superintendent, Vega ISD