Thread by @TrishForLISD

As a Trustee, I voted to approve the budget which incl. an est $36 million for recapture. Be careful for gotcha or fear based messaging because the truth is often a bit more complex. Spooky season is upon us but election season is no time to be pulling pranks!

Staff provided to the board a recapture estimate of $36M based on an estimated growth of LISD property values of 30%. Like all budgets being built, it will be amended throughout the school year...such as current estimates of recapture are now $31.2 million.

From the publicly avail budget - “LISD has been considered a “property rich” school district for several years; however, in most years the amount of recapture has been $0.00 or nominal in nature.” bit.ly/3EqCPcT

Further - “In the past any amount owed by the District could be offset against state aid. The District will not receive sufficient state aid in 2022-23 to offset recapture, which is directly related to the significant rise in property values (30% for 2022)."

To sum.."As such, the District will be required to make recapture payments to the state.” bit.ly/3EqCPcT

But wait some folks are saying that TEA shows you don’t owe recapture....school finance is not for armchair quarterbacks because it is complex and needs someone to actually read through information and research the process.
Here is where TEA is showing no recapture...

The FSP picture below shows $0 in recapture in the preliminary payment but on the HTML link (lines 6 & 7) are saying property value growth is at 4.36%!!! But as noted early the current projection of property value growth is 30%. TEA will eventually get Leander’s actual #

TEA will eventually get Leander’s actual current 2022 property value from the comptroller sometime in February or March.
(Details: tealprod.tea.state.tx.us/.../ReportSele…, select Summary of Finances, and then 2022-2023 and Leander from the drop down menus - click on the HTML link

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