2014 Navasota ISD School Bond Information » Tax Impact

Tax Impact

Tax Impact for $57M, $3M, and $61M

Total Total New Maximum I&S Maximum I&S
Par Amount Debt Service Tax Rate (a) Tax Rate Increase(b)

Scenario I - Proposition 1 $57,765,000 $103,999,500 $0.3793 $0.2279

Scenario II Proposition 2 $3,870,000 $6,978,750 $0.1598 $0.0084

Scenario II - Combined $61,635,000 $111,216,750 $0.3905 $0.2391

(a) Statutory I&S tax rate limit is $0.50.
(b) Estimated increase above the 2013-2014 I&S tax rate of $0.1514.
Assumed Growth Rate: 3.00% (Growth in TAV through the 2018 Tax Year)




I&S Tax Rate Impact on Homeowner

Tax Impact Tax Impact Tax Impact
State Mandated Based on Based on Based on
Residential Maximum Maximum Maximum
Appraised Homestead Taxable Tax Increase Tax Increase Tax Increase
Home Value Exemption (a) Value Scenario I Scenario II Combined

$    50,000 $  15,000 $ 35,000 $ 79.75 $ 2.95 $ 83.70
      75,000     15,000    60,000       136.71 5.06       143.49
    100,000     15,000    85,000       193.67         7.17        203.27
    125,000     15,000   110,000        250.64 9.28       263.06
    150,000     15,000   135,000       307.60        11.39       322.85
    175,000     15,000   160,000       364.56        13.50       382.63
    200,000     15,000   185,000       421.52        15.62       442.42

Note:
(a) Taxes paid on residence homesteads are frozen at age 65
(b) Estimated increase above the 2013-2014 I&S tax rate of $0.1514.

The total tax impact is expected to be no more than $240 annually on a $100,000 home, or $20 a month.

Taxpayers who are 65 years of age or older who have applied for and received their homestead exemption will see no tax increase from this bond election.