AISD to adopt budget, tax rate

By Melinda L. Lucas

A special meeting to adopt the 2023-2024 budget and tax rate for the Albany Independent School District is set for 8:00 a.m. on Thursday, Aug. 31, the last day that the budget can be approved according to state law.

Expenditures for the upcoming school year are projected to be $6,906,021, more than last year’s initial budget of $6,588,482, with a conservative estimate of $6,605,165  in revenue.

The budget is based on the new “maximum compressed rate” of 68.80 cents with the “five golden pennies” added that the state allows with no election for a total tax rate of 73.80 cents. The numbers are much lower than last year’s total tax rate of 94.41 cents as a result of the state’s property tax relief package.