Proceeds from a bond are not subject to recapture and all funds remain in the district.
If approved, the bond will only affect the district’s Interest & Sinking (I&S) tax rate. The I&S budget is used to repay debt for capital improvements through voter approved bonds. Bond funds CANNOT be used as part of the Maintenance & Operations (M&O) budget, or to increase salaries.
Currently, Bushland ISD’s I&S tax rate is $0.1937 with the M&O tax rate standing at $.9664 for a total tax rate of $1.1601. The district has not raised the I&S and M&O tax rates in the last 10 years.
Bushland ISD Historical Tax Rates
2002-2020, every other year
Tax Rate Comparison
Bushland ISD vs. Surrounding Districts
Should the bond proposal be approved by voters, the estimated maximum tax impact of the bond proposal is .2275 cents for a total tax rate of $1.3876. For the average BISD home value of approximately $300,000, this represents an increase of $52.14 per month.
Estimated Homeowner Impact
CITIZENS 65 & OLDER HOMESTEAD EXEMPTION
According to state law, the dollar amount of school taxes imposed on the residence homestead of a person 65 years of age or older cannot be increased above the amount paid in the first year after the person turned 65, regardless of changes in tax rate or property value unless significant improvements are made to the home. If you are 65 or older, you may file a homestead application at any time, or contact your appraisal district to see if you already have the appropriate exemption on file.
To learn more about M&O and I&S tax rate, check out the video below.