State comp­trol­ler: Bastrop prop­erty val­u­a­tions too low

Smithville schools face los­ing $600,000 if an ap­peal by county fails.

Austin American-Statesman - - METRO & STATE - By Andy Sevilla asevilla@ac­n­news­pa­ Val­u­a­tions

The Texas comp­trol­ler’s of­fice has failed theBas­trop County ap­praisal dis­trict’s value process, as its prop­erty val­u­a­tions came in un­der the state-re­quired thresh­old, putting state fund­ing for lo­cal schools in jeop­ardy.

State law re­quires that the dis­trict ap­praise prop­er­ties at 95 per­cent of mar­ket value, or the state re­duces its fund­ing to lo­cal school dis­tricts.

Bastrop, El­gin and Smithville were de­ter­mined to be un­der the 95 per­cent thresh­old, with Bastrop prop­erty val­u­a­tions set at 90 per­cent, Smithville at 93 per­cent and El­gin at 93.7 per­cent for 2016.

The Bastrop County ap­praisal dis­trict is chal­leng­ing the state fig­ure in an ap­peal process ex­pected to last through the spring. If the county’s ap­peal­isn’t suc­cess­ful, the Smithville school dis­trict will lose about $600,000 in state fund­ing, Smithville school Su­per­in­ten­dent Rock McNulty said.

The Bastrop and El­gin school dis­tricts won’t be im­me­di­ately fi­nan­cially af­fected as a one-year grace pe­riod is given to dis­tricts to get back in com­pli­ance with the 95 per­cent thresh­old. But Smith-

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.