KATY, Texas — There’s good news for homeowners in the Katy ISD. At the district’s board meeting Monday, they approved lowering the tax rate for the fifth year in a row.
According to a release sent out Monday night, the rate goes from $1.30 per $100 valuation to $1.12, the lowest rate in nearly a decade.
"This is possible because of the state’s compression of the rate and the passage of the recent property tax relief bill," Katy ISD Board President Victor Perez explained.
The move could save homeowners hundreds of dollars a year in taxes. For example, if you own a $300,000 home, your school taxes will drop about $540 on your next statement.
According to Katy ISD, the average taxable home value is now $328,719 so the taxes will be $562 lower.
The lower rate will be reflected in your next statement in the fall.
Perez said if voters approve raising the state's homestead exemption in November, tax bills will decrease even more.
Here's a look back at home values and tax rates since 2015-16.
