Here’s what newly approved Austin ISD bonds could do to your tax bill

Austin ISD officials say there could be an increase of about $0.01 for every $100 of assessment, bringing the district’s debt service from 11.3 cents to 12, 3 cents.

AUSTIN, Texas — About $2.4 billion is what voters approved for schools in the Austin ISD system.

The bond package should be used to upgrade buildings and may even end up increasing teachers’ salaries. But what could that do to your taxes?

Austin ISD officials say there could be an increase of about $0.01 per $100 in your home’s value, bringing the current district’s debt service to 11.3 cents at 12.3 cents.

Say you have a home worth $500,000, you can expect to see about a $50 increase in property taxes from interest rates and lower district tax rates.

While the increase isn’t significant, economists like Matt Patton with “AngelouEconomics” say it’s still something people are going to have to adjust to.

“It’s not a huge jump, and I don’t want to downplay that. Any increase has to be budgeted for. But the overall result shows that Austin values ​​education and that commitment benefits the current workforce and to tomorrow’s workforce,” says Patton.

AISD officials also say there could be a 6.5 cent decrease in the overall tax rate, which includes both I&S and M&O taxes.

Patton said that may help offset other increases.

“We continue to grow here as a city. A slightly reduced tax rate will always generate more revenue because more people come to the area to pay those taxes,” Patton said.

But what will these obligations meet?

“This $2.44 billion will enable the district to provide the safety facilities and modern technology that all of our students and teachers deserve,” said AISD Acting Superintendent Dr. Anthony Mays.

Most of the money from the three bonds will go towards upgrading and upgrading buildings like LBJ and Travis Early College High School.

“Our students and teachers will have a campus they are proud of, a brand new school designed to inspire learning and prepare our students for the future,” said Erick Posadas, principal of Travis Early College Hight School.

AISD leaders say they currently need to spend millions on repairs, so the bonds will help them free up money for salaries and student programs.

Officials note that it could take teachers about two years to see those salaries increased, but they plan to address teacher salaries in next year’s budget.

Patton said improvements to these schools will also have economic impacts for years to come.

“There are some very obvious ones like construction, supporting that sector of the economy and all the repercussions that we see through that,” Patton said. “Beyond that, we’re going to see a better overall economy in Austin because it’s a better-prepared workforce, a better-prepared group of graduates entering local community colleges, universities, and then ultimately the workforce. -work.”

Tax increases are expected during the 2023-24 school year. For more information on the objectives of the three bonds, click here.

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