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I&S Tax Rate
in Total Tax Rate
Bond Funds Available in February of Corresponding Year
To be determined
1 cent increase equals to $10 more in I&S taxes per year for every $100,000 of appraised value of your home.
* Adopted by the Board on August. 9, 2021
Please note that the average homeowner's property value has increases each year, but the District's tax rate is projected to decrease. As your home value increases so does your taxable value causing your taxes to increase regardless if the District's tax rate. The District Tax Rate is a multiplier; therefore, if the taxable value of your resident goes up so will your taxes.
The Jones Family residence is currently valued at $289,243 (an increase of $21,500 over last year). They have a homestead exemption lowering their taxable value to $264,243. The NBISD Tax rate (M&O + I&S) was lowered this year to $1.1978 . Based on these circumstances, their taxes will amount to $3,165.10. Since the value of their property increase from last year, they will pay $196 more this year even though the NBISD tax rate was lowered.
2021 Taxable Values & Taxes:
Average Home Market Value = $289,243
Average Home Taxable Value = $264,243
Average Homeowner Taxes @ $1.1978 = $3,165.10
This represents an increase for the average homeowner of a little over $196 because the "Average Home" increased in value by $21,500 in 2021.
*Adopted August 9, 2021
(Maintenance & Operations)
Day-to-day operations and expenses
For School Districts, this includes: Staff Salaries, Utilities, Supplies, Repairs, Fuel
For the Average Citizen, this is similar to: Groceries, Utilities, Minor Home Repairs, Routine Services, Car Fuel
(Interest & Sinking)
Principal and interest payments on debt issued
For School Districts, this includes: New Construction, Renovations, HVAC Systems, Roofing, Technology
For the Average Citizen, this is similar to: Mortgage, Home Renovations, Major Appliances, Land, Car
This bond election will not increase the District Tax Rate since the M&O rate is projected to be lowered for the next 3 years.
Bond interest rates are at an all-time low range in the 41-year history of Bond Buyer index.
NBISD has historically taken advantage of bond refinancing opportunities and has completed 12 refundings since 2005 resulting in more than $23.5 million in savings.
The $348 million will be sold in increments and not all at once to keep the tax rate as low as possible.
State law allows for bonds to be financed up to 40 years. NBISD plans to finances these bonds for 28 years or less. With past refunding opportunities and tax base growth, NBISD has been able to pay off bonds in less than 25 years.
NBISD maintains its high credit rating from two agencies, AA+ from S&P and AA from Moody's. NBISD also expects to receive the Permanent School Fund Guarantee from the Texas Education Agency which will provide an enhanced rating of AAA on the proposed sale of the bonds.
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