LUBBOCK, Texas (KCBD) – It’s now up to voters in the Lubbock-Cooper school district to approve a new tax rate.
The Lubbock-Cooper ISD board approved a new property tax rate of a little less than $1.20 per $100 valuation for homes in the district.
The rate is more than the voter approval rate set forth by the state so, by law, it automatically triggers an election.
If approved, it would result in an increase from last year of about 8% in maintenance and operations tax revenue — an additional $3 million the district can use.
The district reports this will raise the average homeowner’s property tax payments by about $144 a year.
District documents show Lubbock Cooper is still short on its adopted budget by nearly half a million dollars.
The voter-approval tax rate election will be set for November 3.
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