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Allen ISD chief financial officer said Allen could lose $3.03 billion if attendance tax credit
Allen ISD chief financial officer said Allen could lose $3.03 billion if attendance tax credit doesn't pass.At Allen City Council’s Tuesday meeting, Allen ISD Chief Financial Officer Johnny Hill urged viewers to vote in favor of the district’s attendance credit program at a special election slated to take place on May 1.
Hill said that if voters fail to do this, Allen could be at risk of losing $3.03 billion of its tax base.
“Fortunately, if you live in the city of Allen, in the school district of Allen ISD and you’re registered to vote, you have a say in how this election will turn out,” he said.
This special election, which will run concurrently with races for Allen City Council and Allen ISD Board of Trustees, is a referendum on the school district’s continued participation in a statewide funding mechanism called “recapture.” Under recapture, the district uses property tax revenue to purchase attendance credits from the Texas Education Agency, which then allocates the funds to poorer school districts in the state.
Read more: https://starlocalmedia.com/allenamerican/allen-isd-chief-financial-officer-said-allen-could-lose-3-03-billion-if-attendance-tax/article_72580808-8cd3-11eb-9d90-0fa3a0f80093.html
(Allen American)