Public school taxes involve two figures: Maintenance and Operations (M&O), used to pay salaries, utilities, furniture, supplies, food, gas, etc.; and Interest and Sinking (I&S), used to repay debt for capital improvements. Bond elections only affect the I&S tax rate.
Proceeds from a bond issue can only be used for the construction and renovation of facilities, the acquisition of land and the purchase of capital items such as equipment, technology and transportation. Proceeds CANNOT be used as part of the general operating budget, or to increase salaries.
Currently, Jarrell ISD’s I&S tax rate is $0.33 with the M&O tax rate standing at $1.04 for a total tax rate of $1.37.
Maintenance and Operations
supplies | food | utilities | salaries | furniture
Interest and Sinking
debt repayment for capital improvements
ESTIMATED TAX IMPACT
IMPACT ON SENIOR TAXES
JARRELL ISD TAX RATE HISTORY
Should the proposed bond be approved by
Jarrell ISD voters, the tax impact is an estimated maximum increase of 17 cents, for a total tax
rate of $1.54. For a home valued at $100,000,
this represents an increase of approximately $10.63 per month.
Bonds will be sold over time when the financial capacity becomes available based on property values in the district. Tax rate increase will not exceed 17 cents.
The chart displays the estimated monthly tax increase to property owners in Jarrell ISD if the bond is approved at the May 6, 2017 election.
**Assumes $25,000 Homestead Exemption
Monthly Tax Impact Calculator
Jarrell ISD property taxes for citizens age 65 or older or for disabled citizens would not be affected by the bond election as long as a homestead and over 65 exemption application have been filed with the local appraisal district.
Under 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, increasing the overall value.
For more information on the over 65 exemption, visit Williamson County’s Tax Office online.
Since Jarrell ISD’s 2008 bond, the district has kept the tax rate below the amount of neighboring school districts.
Since 2011, the tax rate has not increased. The total tax rate dropped 2.25 cents in 2015 to the current combined tax rate of $1.37.