Gladewater ISD trustees approved a slight boost to the district’s tax rate Monday night and marked their calendars for upcoming superintendent interviews.
According to data presented by GISD Chief Financial Officer Candy Keller, shifts in taxable values in the three counties the district serves required a rate increase just shy of a 1.8 percent more than the current Fiscal Year 2024 rate of $1.002449 per $100 valuation. In order to fund the FY25 budget the school board approved in the summer, it settles at $1.020211 per $100 for the coming year.
“We had two counties decrease from their pre-certified values, and Gregg County slightly increased,” Keller noted. “That played a role in our calculations.
“For the budget, we used the preliminary values. We used the maximum compression rate from the year before.”
By the numbers, Gregg County’s preliminary tax value figure was $358,154,378 in April 2024. The certified value released in July 2024 showed a 2.5 percent gain to $367,208,745. However, Upshur’s April number declined 9.2 percent to $211,232,167 along with Smith County’s 4.9 percent decrease between preliminary and certified, landing at $137,289,182.
The district’s Maintenance & Operation tax rate calculation combine’s the Maximum Compression Rate approved by the state ($0.6169) and the voter approval rate (the maximum allowed without an election) of $0.1383. It’s a total M&O rate of $0.7552 per $100 valuation.
Likewise, the district’s Interest & Seeking rate is $0.265011, the amount needed to cover the school’s debt.
Per interim Superintendent Mike Morrison, “The certified values went down so in order to make our bond payment we had to go up two cents.”
With no questions or comments from the trustees Sept. 16, the combined tax rate of $1.020211 was approved 7-0.
In other business Monday, Gladewater High School Principal Derrick Floyd noted enrollment for the 24-25 school year is currently 486.5 students on his campus, an increase of 40 enrolled compared to the same time last year.
“We have definitely felt that in our building,” he said.
Morrison also moved the board forward in their search for a new long-term superintendent. Sept. 24 marks the application deadline for candidates, he reminded the trustees, requesting they block time in the weeks ahead to review the applicants and set interviews.
“I expect you and I’m going to teacher-voice you here to do your homework,” Morrison said.
The board will meet in a special meeting at 6 p.m. Sept. 30 to review applications then they’ll gather three evenings in a row in early October for an initial round of interviews to narrow the candidate pool followed by another three-night stretch for the second round with finalists.
– By James Draper