Despite Texas's $33 billion budget surplus, additional funds per student were not approved during the last legislative session, leading to a $30 million budget shortfall for Austin ISD. In response to rising inflationary costs, the district is considering a VATRE (votación para la ratificación de impuestos) to raise $44 million annually for teacher and staff raises.
"When a state refuses to pay for public education and one legislative session after another refuses to invest in our kids, it's on us here locally to invest in our kids," said Education Austin President Ken Zarifis.
The proposed tax rate increase, from $0.091 to the maximum allowable rate of $0.17, would translate to an additional $35 per month for the median valued home. The board aims to inform voters about how the increased revenue would be allocated, working closely with Education Austin and board members to determine the best utilization of funds.
The board would need to make a decision on including the VATRE on the November ballot by Aug. 19, 2024, as they strive to address the financial challenges facing the district and ensure competitive pay for educators and staff members.