Community Impact reports that under Texas’ excess local revenue law, also known as recapture, Montgomery ISD officials have said they are being required to pay $3.1 million for the 2022-23 fiscal year.
MISD’s Chief of Staff and Communications Justin Marino said that when a school district is considered “property wealthy,” it is obligated to pay recaptured funds. In a presentation on October 17th, Marino said MISD has handed over $9.6 million in recaptured funds to the state since 2013.
Marino also passed along that the district’s net appraised property value since 2013 of $4.16 billion has more than doubled to $8.89 billion.
He said the $3.1 million they’re required to pay “is a lot of money for our budget.” He said it’s equal to almost a 4% employee raise.
Marino also noted that since 2013 the district’s allotted amount for students has gone up by about 13% from $5,926 to $6,688 per student. He said since Fiscal Year 2013-14 the largest amount of recaptured funds MISD has paid was for Fiscal Year 2018-19 in the amount of $3.6 million. He also commented that recapture collections throughout the state have been around $5 billion per year.
Trustees voted in approval the recommendation of the district to purchase attendance credits, which is the way districts pay recaptured funds. However, trustees and other officials have issues regarding the recapture laws.
