Hillsborough County School Board Approves $4.34 Billion Budget for 2024-25

The Hillsborough County School Board has officially ratified a budget of $4.34 billion for the upcoming 2024-25 school year. This decision marks a significant step forward for the school district, culminating in a property tax rate that has been slightly reduced from the previous year’s figures.

Revised Property Tax Rate

Starting this year, homeowners will pay $5.39 per $1,000 of taxable property value, a minor decrease of one cent from the current rate. This adjustment comes in light of increasing property values across the county.

• Example Calculation: For a $425,000 home with a homestead exemption, the estimated tax would come to $2,155.20.

A second reading and subsequent vote on this budget are scheduled for September 5.

Financial Reserves and Deficit Analysis

Romaneir Johnson, the district’s Chief Financial Officer, provided a detailed overview of the district’s finances. Currently, the district is concluding the school year with $370 million in reserves within its general fund. This amount exceeds 20% of revenues, a significant recovery compared to previous years when the district faced potential state intervention.

However, Johnson noted that reserves are projected to decline to approximately 15% due to the early settlement of employee contracts, which includes $37.6 million in increased wages and ongoing costs. This situation has resulted in a projected $22.8 million spending deficit for the upcoming year.

“I want you to know that the budget is fluid, and it will change,” stated Johnson.

Charter School Enrollment Projections

Another factor influencing the budget is the independent enrollment forecasts set by charter schools within the district. For the upcoming year, charter schools have projected they will serve over 41,000 public school students. However, past performances have shown that these projections often exceed actual enrollments.

Proposed Additional Property Tax

The approved budget does not incorporate the school board’s aspirations for an additional property tax increase. The district proposed a referendum for voters in November, requesting an additional $1 per $1,000 in property value to enhance employee compensation, similar to measures taken by neighboring districts.

In July, the Hillsborough County Commission opted to postpone this referendum until 2026 or later, citing concerns about residents facing rising living costs. Following this, the district filed a lawsuit, and a recent circuit court ruling mandated that the county convene by August 13 to ensure the referendum appears on the ballot.

Community Support for Increased Funding

Advocates for the proposed tax held a media event at the teachers union hall, drawing attention from various community leaders, including State Senator Darryl Rouson and representatives from the Florida Education Association.

“Talk about crowded classrooms,” remarked Malachi Brown, a 17-year-old cybersecurity student at Middleton High School. “Thirty kids in an AP precalculus class is a lot, especially after PE.”

Brown emphasized the importance of qualified teachers, stating, “Even students who may not think they care can feel the difference.”

Campaign for Better Funding

The event was organized by Hillsborough Students Deserve Better, a political action committee that aims to bolster support for the tax increase. They plan to actively engage the community through various outreach methods, including:

• Door-to-door canvassing
• Sign campaigns
• Phone calls and texts
• Digital messaging initiatives

Rob Kriete, president of the Hillsborough Classroom Teachers Association, expressed determination in the campaign, saying, “We’re going to be doing everything that we need to.”

Conclusion

As the Hillsborough County School Board moves forward with the proposed budget and seeks additional funding to improve educational outcomes, the community’s engagement and financial support will be crucial. Stay tuned for updates on the upcoming vote in September and the anticipated referendum in November.

For more details and updates on the school district’s budget and property tax initiatives, visit the official Hillsborough County Schools website.