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Tax Impact
The proposed $42.68 million bond election, if approved, is assumed to raise the current tax rate by a maximum of 37.6 cents.
The following assumptions were used when calculating the potential tax impact of a successful bond election.
Interest rate of 5.25% (Today's rate is near 4.75%.)
Assessed valuation growth rate of 1.5% for the first five years, and 0% thereafter (The actual average growth is 13.3% per year for the past five years.)
PLEASE NOTE: Taxpayers 65 years of age and older who have applied for and received the Age 65 Freeze on their homestead will not pay any additional school taxes on their homes above their frozen level if the election is successful.
The chart below shows the estimated impact on homeowners within BISD.
| Home Value |
State Mandated Exemption*
|
Taxable Value |
Monthly Increase |
Annual Increase |
| $30,000 |
$15,000 |
$15,000 |
$4.69 |
$56.34 |
| $40,000 |
$15,000 |
$25,000 |
$7.82 |
$93.89 |
| $50,000 |
$15,000 |
$35,000 |
$10.95 |
$131.45 |
| $60,000 |
$15,000 |
$45,000 |
$14.08 |
$169.01 |
| $75,000 |
$15,000 |
$60,000 |
$18.78 |
$225.34 |
| $100,000 |
$15,000 |
$85,000 |
$26.60 |
$319.23 |
| $125,000 |
$15,000 |
$110,000 |
$34.43 |
$413.12 |
| $150,000 |
$15,000 |
$135,000 |
$42.25 |
$507.02 |
Average home value in BISD is $30,663.
*Assuming homestead exemption
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