Public School Taxes & Current Tax RateYour public school taxes involve two figures:
Currently, Georgetown ISD’s I&S tax rate is $0.318. When combined with the district’s M&O tax rate of $1.08, the total tax rate for Georgetown ISD is $1.398 per $100 of certified property value.
- Maintenance and Operations (M&O): Used to pay for salaries, utilities, furniture, supplies, food, gas, etc.
- Interest and Sinking (I&S): Used to repay debt issued for capital improvements.
- Bond elections affect the I&S tax rate.
Estimated Tax ImpactIf voters approve the bond election, the estimated maximum tax impact of this bond is anticipated to be 5 cents for a total tax rate of up to $1.45 per $100 assessed value. For the average taxable home value of $252,058 (after current $15,000 homestead exemption), this represents an increase of approximately $10.50 per month.You can use the tax calculator to the right to calculate the monthly tax impact on your property if the bond passes. Be sure to input your propety's appraised value BEFORE exemptions. The standard $15,000 homestead exemption is already in place in the calculator.You can adjust the exemption amount if yours is different. If you have no exemptions on your property, input 0 for the exemption amount.To look up your property value and exemptions, visit the Williamson Central Appraisal District website.
Impact on Senior Citizens' Property TaxesSchool taxes for Georgetown ISD citizens who are age 65 or older or disabled would not be affected by the bond as long as a Homestead and Over 65 exemption application have been filed. Under state law, the dollar amount of school taxes imposed on the residence homestead of a person 65 years of age or older may not be increased above the amount paid in the first year after the person turned 65, regardless of changes in tax rate or property value, excluding the value of any new improvements, such as additions or renovations, that increase the value of such homesteads.
Contact the Williamson Central Appraisal District with questions regarding the Over 65 or disabled exemption.
Last Modified on March 23, 2016