The Danville Independent Schools Board of Education approved a new tax rate at the regular board meeting on Monday, Aug. 25. 

The board approved a decrease in the tangible tax rate, from 94.5 cents per $100 of value to 91.7 cents per $100 of value.

The board also approved a 4% increase in the real estate tax rate, from 90 cents per $100 of value to 91.7 cents per $100. The increase amounts to about a $17 increase in real estate taxes on a $100,000 home.

The new rate is significantly lower than it was in 2021, for example, which was 98.1 cents per $100. 

Of the current rate of 91.7 cents per $100, about 75.5 cents per $100 of value is for the district’s general fund. The remaining 16.2 cents per $100 are for building fund nickels to fund facilities projects, such as the improvements to Admiral Stadium and the upcoming John W. Bate Middle School renovation project. The district established the nickel tax last year following a public hearing. 

“We have made such dedication to our facilities with those three nickels, which will set us up for success for years to come,” said Superintendent Ron Ballard.