What is a bond and why do we have elections?
Homeowners borrow money in the form of a mortgage to finance the purchase of a home. A school district borrows money in the form of bonds to finance new schools and renovation projects. Both are repaid over time, but in order for a school district to sell bonds, it must go to the voters for approval. By law, bond funds may not be used to fund daily operating expenses or salaries. Bond funds may only be used for the projects previously described.
How much will School Bond 2010 cost the average taxpayer?
The average home in Northside is valued at $162,401. If the bond is approved, the average homeowner will pay an additional $1.74 a month starting in 2012. However, this projection depends on future property values and state assistance, which could drive the tax rate down.
Monthly and yearly tax impact
This chart shows the monthly and annual tax impact for the average home in Northside.
|Property tax impact of $535 million bond issue for owner of $162,401 home|
|Year||Annual tax increase||Monthly tax increase|
Will approval of the bond affect property taxes for Senior Citizens?
No. Property taxes for senior citizens are frozen and would not be affected by passage of the bond issue, as long as they have filed the proper paperwork for an exemption with the Bexar County Appraisal District.
2009-10 area school district property tax rates
See how NISD taxes rank compared to other school districts in San Antonio.
|School District||Total Tax Rate||M&O Tax Rate||I&S Tax Rate|
|South San Antonio||$1.4338||$1.0400||$0.3938|