Cypress-Fairbanks Independent School District issued the following announcement on Sept. 21.
The CFISD Board of Trustees approved a 2020 tax rate of $1.3555 per $100 of property valuation—a reduction of $0.0145 from 2019—during its regularly scheduled meeting on Sept. 14.
The total tax rate is comprised of a $0.9555 Maintenance & Operations Tax Rate and a $0.40 Interest & Sinking (or debt service) Tax Rate. The M&O Tax Rate, which funds day-to-day operations in CFISD, has decreased for the second consecutive year—down from $0.97 in 2019 and $1.04 in 2018.
CFISD also offers a local optional homestead exemption of 20 percent of the appraised value of a home. When paired with a $25,000 state exemption, a CFISD taxpayer with a home valued at $200,000 would pay a tax based on $135,000 of value.
The 2020 tax rate decrease will save the owner of a home valued at $200,000 approximately $20 on their annual property tax bill.
View additional property tax information on the CFISD website.
Original source can be found here.
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