No tax rate increase means no tax rate increase

What is the potential impact on property owners?

No tax rate increase is anticipated with the proposed $992 million school bond. However, ballot language will include the statement, “THIS IS A PROPERTY TAX INCREASE.” Legislation passed in the 2019 Texas Legislative Session requires that school districts include this language, regardless of the bond’s impact on the district’s tax rate. This law only applies to school district bonds. You will not see this language on other governmental entities bond proposals.

The district has the capacity to issue additional bonds without a tax rate increase because of expected property value growth and the fact that NISD is continuously paying off prior debt.

Also, there will not be an increase in taxes for senior citizens or disabled persons as a result of this proposal. School property taxes for senior citizens and disabled persons are frozen and would not be affected by passage of the bond election as long as they have applied for and received the Over 65 Homestead Exemption with their appropriate appraisal district. 

Watch the video below for additional details.