AUSTIN (KXAN) — Voters part of Lake Travis Independent School District approved a raise in the tax rate in order to retain $3 million locally and increase the Maintenance and Operations tax rate by $0.02.

With all precincts reporting just after midnight, more than 3,500 votes were for the proposition, representing 59% of the vote.

Called a Voter-Approval Tax Rate Election (VATRE), state law requires school districts to have residents vote to raise their tax rate.

Maintenance and Operations (M&O) tax rate is primarily used for staff salaries and benefits, which makes up for 85% of the budget, maintenance of facilities, student services, instructional materials and other uses.

By approving the tax rate, there will also be a slight decrease in the district’s Interest and Sinking tax rate, which will have a minimal impact on future bond capacity. Interest and Sinking tax rate can only be used in paying principal and interest on bonds that construct district facilities.

More information about the Voter-Approval Tax Rate Election can be found on the school district’s website.