The budget assumes a total taxable property value of $9.2 billion, with $16.5 million subject to reserve, and an average daily student population of 11,645.

For the owner of a home valued at $110,727, the county’s average taxable value for property tax-exempt residences, the new rate would mean $1,161 in taxes, or $165 more than last year for a home of average value.

The higher tax rate represents a 0.79% increase over the tax rate without new revenue of about $1,041. The $162.6 million budget requires the district to withdraw $8.1 million from its reserve fund.

The budget includes a 1% salary increase, or about $600 more, for employees paid at the teacher rate. The starting salary for teachers will increase from $52,975 to $53,000. The district will also increase its monthly group health insurance premium to $558.60 per employee, an increase of $102.60.

Waco ISD is the financial agent for the McLennan County Challenge Academy and the Regional Day School for the Deaf. It also manages the budgets for the Greater Waco Advanced Manufacturing Academy and the Greater Waco Advanced Health Care Academy, which are funded primarily by members and participating school districts.

Budget deficits are projected for the Regional Day School for the Deaf and the two academies—$110,000 for the school for the deaf, $235,000 for GWAHCA and $190,000 for GWAMA—which the district must use $535,000 from its general fund budget to cover.

Trustee Jonathan Grant said the new tax rate would mean a tax increase roughly equal to the increase in home value. The owner of a home valued at $110,727, the average taxable value in the county, would pay about 16.5 percent more in taxes while the home’s value would increase by 14 percent.

Superintendent Susan Kincannon told the board that 12,361 students were in attendance on the first day of school, an increase from opening day last year. On the seventh day of school, there were 13,398 students, 95 more than at this time last year.