Impact on Tax Rate
HB 3 committed more state-level funding to education and, in turn, was able to compress local property tax rates throughout the state, including in HPISD. This chart shows how the HPISD tax rate decreased 7 pennies (per $100 of taxable value) from 2018 to 2019. The HPISD tax rate decreased another 1.36 pennies in 2020. During the 2021-22 school year, the tax rate is scheduled to decrease another 6.1 cents. Approval of the 4 golden pennies would still decrease the tax rate. However, the decrease would be by 2.1 cents (instead of 6.1 cents) to $1.1310, which would be the lowest tax rate in 5 years.
- A majority vote for the golden penny election will decrease the tax rate by 2.1 cents per $100 of assessed property value and generate approximately $3.6 million to be used for staff compensation.
- A majority vote against the golden penny election will decrease the tax rate by 6.1 cents per $100 of assessed property value.