*New Lovejoy ISD VATRE content will be published regularly.Please check back for additional information.
Lovejoy ISD held a community VATRE presentation via zoom on October 13, 2022.The video from that presentation is linked here.The information shared was current at the time the presentation took place.
Lovejoy ISD District Profile
2022 Top Ranked Traditional School District in Texas scoring 99/100 and "A" rating by the Texas Education Agency (TEA)
Top 1% Best High School - US News & World Reports
#1 in Best School District in Collin County by Niche
#2 (5A) Lone Star Cup in 2022
Top STEM High School by Newsweek
2022 Best Communities for Music Education
Volleyball 8 x UIL State Champions: 2008, 2009, 2010, 2011, 2012, 2014, 2019, 2020, 2021
Girls Cross Country, Wrestling, and Volleyball 2021-2022 UIL State Champions
274 Advanced Placement (AP) Scholars in 2021-2022
107 Athletes Earned Academic All-State Honors
2022 Gatorade National Volleyball Player of the Year
2022 Presidential Scholar in the Arts
Approximately 4200 LISD students are served Pre-K to 12th Grade
Approximately 520 LISD employees
6 Campuses: Early Childhood, Elementary (2), Intermediate, Middle and High School
Lovejoy was Founded in 1917
District Boundaries Cover ≈ 17 Square Miles
Lovejoy High School Graduated its 1st Senior Class in 2010
To propel every person to personal excellence.
What is a VATRE?
An election called a Voter-Approval Tax Rate Election (VATRE) is required by state law when a school board adopts an M&O tax rate that is greater than the rate set by state law.
November 8, 2022 VATRE
On Monday August 8, 2022 the Lovejoy ISD Board of Trustees called for a Voter-Approved Tax Rate Election (VATRE) for November 8, 2022 to increase the M&O portion of the 2022 ISD tax rate by 3.17 cents.
VATRE Impact on the Tax Rate
Due to tax rate compression, Lovejoy ISD's 2022-2023 Tax Rate will DECREASE with or without the passing of the VATRE.
Property taxes rates for homeowners 65 years and older with the appropriate exemptions will not be impacted by the Voter-Approved Tax Rate Election (VATRE).
Historical LISD Tax Rates
The recommended tax rate will be Lovejoy ISD’s lowest rate in over 20 years.
The passing of the VATRE would generate approximately $640,000 in additional funding for Lovejoy ISD.
Restore fund balance
Employee compensation is a component of teacher and staff recruitment and retention.
The graph below depicts the estimated budget impact of employee compensation increases ranging from
1-5% for the 2023-2024 school year.
Without passing a VATRE, the annual budget is projected to reach a deficit of over $2.1 million by fiscal year 2026.
If the VATRE does not pass, days of operating expense in the fund balance are projected to decrease to
65 days in fiscal year 2026, potentially requiring a loan to fund operating expenses.The amount of money in a school district’s fund balance fluctuates throughout the year, but 90 days of cash on hand is often used as a minimum standard.
Since Lovejoy has a heavy reliance on local tax collections, having sufficient cash on hand is important to cash flow, which includes payroll.