In the September regular Board meeting, CCISD Trustees unanimously approved a tax rate of $1.40 which remains unchanged from 2015. During the same meeting, the Board authorized the use of $2 million in increased fund balance to defease various bonds.
The $1.40 per $100 valuation is made up of $1.04 for Maintenance and Operations and $.36 for Interest and Sinking. This is the eighth straight year that the District has kept its Maintenance and Operations tax rate at $1.04 and the fourth straight year it has held its Interest and Sinking Fund tax rate at $0.36.
As property values in the area have increased over the last year, the District’s fund balance in the Debt Service Fund proportionally increased. This increase provides Clear Creek ISD the opportunity to reduce a portion of its outstanding debt in the amount of $2 million, which the Board unanimously approved. This move is one of several that fall under a Bond Parameter Order Trustees approved at the August 29, 2016 Board meeting to refund various 2008 and 2009 issue bonds to achieve lower interest rates which will result in further interest rate savings on District debt.