Dear Vega ISD Community:
This past week has seen many different activities for our students at Vega ISD. Our Pre-K through 3rd graders traveled to Gee’s Pumpkin Farm and enjoyed the very warm October weather. Our junior high volleyball team hosted games and played well against their competition. The JV and Varsity volleyball teams played Tulia and picked up some more wins. The junior high football team played hard against Memphis and the JV football team picked up a win against Shamrock. As you know, last week’s Varsity football game in Memphis was canceled so our team will get an extra week of recovery with their open week this week as they prepare for district matchups. Our high school band traveled to Stinnett for a Pre-UIL Marching Performance as they continue to get ready for their contest next week. Be sure to visit our webpage and social media pages for more information and pictures.
Thanks to everyone who came out for the VATRE Public Meeting this past Monday to hear information and ask questions about the upcoming VATRE election and its impact on the school district. Please continue to check out our social media page with the VATRE Question of the Day. We will have two upcoming Coffee & Conversations for a more informal question and answer session to get the facts about the upcoming VATRE election. The first Coffee & Conversations will be Thursday, October 17th at Mama Jo’s from 8 AM - 9 AM. The second Coffee & Conversations will be Thursday, October 24th at Hickory Inn from 8 AM - 9 AM.
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.
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