How does something like that happen? It’s complicated.
Many schools in Texas are primarily funded by local property taxes, plus money from the state and some federal dollars. But wealthy school districts don’t get to keep all of their property tax revenue. The state sets a basic amount of funding school districts get per student — it comes out to no more than $6,160.
School districts like Plano ISD that collect more than that in property tax revenue have to send the extra money to the state. The Texas Education Agency redistributes that extra money to poorer school districts. That system is known as recapture.
To view the full story visit https://www.keranews.org/news/2023-03-21/plano-isd-runs-a-deficit-why-its-sending-millions-to-the-state