The Houston Independent School District Board of Education voted in February to call a May 6 election asking voters to authorize sending lower recapture payments to the state rather than face detachment of commercial property in July. The swift timing allows the district to follow the deadlines set by the state and Harris County.
Previously, HISD’s recapture obligation was estimated at $162 million. Under the Texas Education Agency’s recent announcement of recognizing half of the local homestead exemption, along with adjustments made to student enrollment and property value figures, HISD is now subject to a reduced $77.5 million recapture obligation or the removal of about $8 billion dollars’ worth of non-residential, commercial properties from HISD’s tax roll.