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Tax Impact Bond 2017

AISD 2017 School Bond

TAX IMPACT

How much will School Bond 2017 cost the average taxpayer?

The average home in AISD, valued at $121,000, would see an estimated tax increase of $4 a month or $48.02 a year, based on current market estimates.

Will approval of the bond affect property taxes for senior citizens?

No. Citizens who are 65 or older (as of January 1, 2018) qualify for a $10,000 homestead exemption in addition to the $25,000 exemption for all homeowners. Once you apply for and receive the over-65 exemption, a maximum school tax amount is applied to your home. Your school taxes cannot increase above this ceiling as long as you own and live in your house, unless you add on or do a major renovation that increases the value of your home.

Annual Impact of School Bond 2017 on Homeowners in Amarillo

Annual Impact on Homeowner Average Home Value in AISD (2017)        

 

 
Home Value $121,033 $75,00 $100,000 $150,000 $200,000

$250,000
Standard Homestead Exemption $25,000 $25,000 $25,000 $25,000 $25,000

$25,000
Net Taxable Value $96,033 $50,000 $75,000 $125,000 $175,000

$225,000
5¢ Impact $48.02 $25.00 $37.50 $62.50 $87.50

$112.50

 

*The 5 cents will be added to the portion of the tax rate that is used to pay off long-term debt. AISD's total tax rate of $1.189 is composed of two parts - $1.08 for maintenance and operations, and $.109 for debt service. If the bond election passes, the total tax rate would increase to $1.239 per $100 property valuation, effective beginning with the 2018 tax statements.