Rockdale ISD is faced with losing state funding because the locally appraised values of homes and businesses did not reach the 95% of sales prices, the ratio mandated in state law. The appraisal district and local schools learned of the study results in early February.
The difference between the state assigned value and the local value is $66 million. Categories of property not reaching state mandated levels were single family homes, homes on acreage, and local commercial property.
The results mean potential loss of state funding. Appeals have been filed by attorneys, but the differences are so significant that the appeals are not likely to bring the school into compliance.
For the complete news release please see the link below:
News Release – Milam AD Values Fall Below State Value Assignment in Rockdale