The term "tax ratification election" or "TRE" has been used over the past several months among discussions regarding Keller ISD's finances, though the Board of Trustees ruled it out for the 2010-11 budget cycle.
Generally, if a school board adopts a tax rate above its “rollback” tax rate, it must hold an election to ratify that new rate. If a majority of the votes cast in the election favor the proposition, the tax rate for the current year is the rate adopted by the board. If the proposition is not approved, then the board may not adopt a tax rate for the current year that exceeds the rollback rate.
What would a TRE provide Keller ISD?
A tax ratification election in Keller ISD would result in $16 million for students.
On which date must a TRE be conducted?
A TRE must be conducted 30-90 days after the date the tax rate is adopted.
How much would a TRE cost the average homeowner?
The cost for a $200,000 home would be $260 per year or $22 per month.