May 29, 2018
Thank you for supporting Wylie ISD with your taxes. Since the Collin County Appraisal District mailed property value estimates, we have received questions regarding the increases most folks have experienced and how this impacts school funding. Financial responsibility and transparency, now more than ever, are essential foundations of how we collect taxes and allocate resources. Please click here or on the link above and preview a short video that explains what we have provided in detail below.
Since the year 2000, Wylie ISD has grown by11,190 students. That is a 243% increase. Keeping up with this growth has been exciting, but it has also been a challenge. Planning is crucial to ensure that we have the teachers we need, the desks we need, and the classrooms we need to accommodate our new students. If we are not careful in our planning, we may miss the mark on providing students and staff with the tools they need to be successful. That is simply not an option.
Thanks to our taxpayers, Wylie ISD has a competitive salary that attracts, and keeps, great teachers. And, our facilities have kept pace with the exponential growth we have experienced. Thank you for supporting Wylie ISD. Running a school system of this size takes resources—it’s important to us that you understand where your money is going.
Wylie ISD is located in one of the fastest-growing and wealthiest areas of Texas. Dallas/Fort Worth generates TONS of high-wage/high-needs jobs and is a national model for other districts across the country. The DFW area comprises nearly half of all new job growth in Texas. We are the standard for success.
“ROOF TOP” TAX BASE
The tax base is comprised of homes and businesses. It’s important to recognize how our money is being allocated.
More than 80% of our property tax base is comprised of homes, not businesses. So, Wylie ISD receives the least amount of taxable revenue per student. Why? Business generates a LOT more property value than our own personal rooftops. For this reason, we see a difference in how the monies are spent.
In recent years, Texas has transferred much of the responsibility of school funding from state revenues to local property taxes and has shifted property tax collection to reward schools that maximize their tax rate. Raising our tax rate to the highest allowable rate allows us to receive the same amount of funding that area districts receive. This process is referred to as the golden, copper, and silver tax rate. I would be happy to explain this individually; but, it’s too complicated to explain in a blog. Pull me aside at the next school function, and I’ll be more than happy to go into more detail.
Wylie ISD could keep what it collects locally, and property taxes would be considerably lower. For every increase in property tax revenues, the state reduces their contribution. When Wylie ISD raises one additional dollar in property taxes, the state takes .81 cents, and we keep .19 cents. In the end, the state still ends up coming out on top.
The average property value of a Wylie ISD home is $283,823. That is a $19,300 increase from 2016. The average taxpayer bill increased by $225.80. Where did the money go? Well, $206.00 of the increase went to the state. Wylie ISD kept $19.80 for our budget. Under the current school funding system, property taxes are the biggest revenue source for Wylie ISD. And, we work hard to guarantee that we are using that money wisely.
Districts like Plano ISD receive no state funding. In fact, they give back millions of dollars. Where does the money go? The state uses local property values to fund poor districts. They use what is left (around $544 million) to fund other state budgets. This is what’s known as the Robin Hood effect. It works to ensure that all districts are able to function accordingly.
PROPERTY TAX REFORM
We have a great relationship with our state legislators. If you consider the Texas Legislator’s position, lowering taxes has created a business-friendly environment that impacts job growth, wages, and property taxes. As new families move to Texas and buy homes, property values increase. The current taxing structure asks property owners to carry the load. Our state legislators call for property tax reform, and we support their efforts!
We appreciate the role you play in this process, and we value the support you show for our district. Thank you, tax payers, for all you do for Wylie ISD. Together, we can continue to make Wylie ISD, and the Wylie community, great. We’re in this together.