BISD has been good financial stewards of our school property tax dollars for many years. Since 2016, BISD has saved over $41M of projected interest payments on existing debt through paying off debt early and refinancing of debt, when available. Over the past decade $80M in interest has been saved. In February 2022, BISD paid off an existing bond of $3M early, that was due to be paid off in 2027. BISD can take on additional bond debt and not increase the school property tax rate because they take in more property tax revenue than they have debt obligations. If this bond package is passed by the voters, BISD will be able to meet its current obligations and begin paying off principal of the new debt within the first year, thus continuing to save projected interest payments and tax dollars for our community.
So, not only will seniors (or disabled) with frozen school property taxes not get a tax increase, they will actually see their school property taxes decline due to the tax rate reduction and increase in the Homestead Exemption. The only exception to this would be if the senior (or disabled) homeowner added something to their homestead, such as a room addition or pool.