Harts Bluff ISD is one of only a few districts across the State of Texas that does not currently have an I&S (debt service) tax rate.  While the district has managed to maintain facility needs over the years, a school district’s Maintenance and Operations (M&O) budget is intended to fund teacher salaries, staffing, instructional materials and supplies, and the daily operational costs of the district.  Districts rely on an I&S (debt service) budget to pay for capital improvements like school additions or renovations, in much the same way a homeowner borrows funds through a mortgage.

The proposed bond would increase the I&S tax rate by 35 cents.  However, the overall tax rate has decreased in Harts Bluff ISD by 19 cents in the past 5 years.  Therefore, the total tax rate would be roughly 16 cents more than what homeowners paid in 2018.  This means that someone with a $150,000 home will pay about $20 more per month than they paid in 2018.  In addition, the State is expected to continue to lower (compress) the Maintenance and Operations (M&O) tax rate, so the future total tax rate could be lower. 

As compared to the 2022 tax rate, the increase on a $100,000 home would be approximately $30 per month, the increase on a $150,000 home would be approximately $44 per month, and the increase on a $200,000 home would be approximately $58 per month.

Homeowners 65 years of age and older will see no increase in their tax rate as long as they have filed for their senior citizen homestead exemption.