Waco Independent School District trustees decided Thursday night that they need more information about the Tax Increment Financing district before they make a decision on whether to withdraw from it.
Though the school district puts about $1.8 million into the TIF fund every year, all but about $227,000 of it comes back to the district through state funding, said Sheryl Davis, assistant superintendent for business and support services.
Davis said if the district pulled out of TIF, it would mean about $10,000 more in the operations budget and about $217,000 in the debt service budget. The debt service tax rate could be decreased by about a half of a penny.
