The Denton school district will have a public hearing for its proposed tax rate and budget for the upcoming fiscal year at 6 p.m. today.
According to data provided by the school district, Denton is proposing a 1-cent increase to the debt tax rate for the upcoming fiscal year from 49 cents per $100 valuation to 50 cents. That equates to an approximately $10 annual increase for individuals owning a home costing $100,000. The district will officially set its tax rate in September.
According to the proposed budget, projected general fund expenses, which support daily operations and salaries, for the Denton school district next fiscal year total more than $212 million. That total includes more than a $4.6 million shortfall, which district officials are primarily attributing to increased personnel costs. The school board is slated to adopt the next fiscal budget later this month and prior to its July 1 start date.
The public hearing will take place during the bi-weekly school board meeting at the Stephens Central Administration Building, 1307 N. Locust St.