Tuesday, September 17, 2024
LAKE WORTH — Lake Worth Independent School District board of trustees approved a resolution to oppose the new Tarrant Appraisal District 2025-2026 reappraisal plan during an Aug. 19 meeting.
The TAD board approved a reappraisal plan that will freeze property values in Tarrant County in 2025. Then, after 2025, it will switch to a two-year appraisal schedule. Lake Worth ISD and other school districts in Tarrant County receive funding based upon property values. The TAD board met Aug. 9 and gave the green light for this new reappraisal plan.
LWISD Chief Financial Officer Trent Dowd said many school districts are concerned about the TAD reappraisal plan.
“All of the ISDs in Tarrant County are extremely concerned about this,” Dowd said. “We are very concerned about our local values.”
Dowd explained to the board that the new plan would significantly drop local funding for the school district. He said the Tax Code states if enough taxing entities in Tarrant County oppose this plan, TAD will have to reconfigure the reappraisal plan.
“All we’re asking is that they work with us to find a plan that benefits both taxpayers without seriously harming school districts,” Dowd said.
Lake Worth ISD Board President Armando Velaquez asked Dowd how school districts have been received by TAD and if there has been an openness to have discussions with citizens. Dowd replied that there has been a mixed review on how school districts are being received.
The board was also presented with another resolution from Dowd that would disapprove the Tarrant Appraisal District 2025 budget. This resolution was similar to the previous one, except it focused on the TAD’s 2025 budget, which includes a 17% budget increase.
The board voted unanimously in favor of opposing TAD’s 2025 budget.
