Budget & Tax Rate
If voters approve all four propositions, EMS ISD homeowners can expect an increase of one-tenth (1/10) of a penny in the local tax rate on a primary homestead beginning in tax year 2024. This equates to $1 per $100,000 of taxable value or less than $3 on the average annual 2023 primary homestead residence. Residents 65 years and older who apply for the Homestead Exemption will see no school tax increase as a result of the EMS bond proposal.
The November ballot will also include a Constitutional Amendment proposing to raise the $40,000 Homestead Exemption to $100,000, providing tax relief to homeowners across the state who apply for the exemption for their primary residence.
Voters will have the opportunity to vote on a Constitutional Amendment designed to provide statewide tax relief by raising the $40,000 Homestead Exemption to $100,000.
Most homeowners who apply for the exemption on their primary residence will see an overall tax rate and tax bill decrease.
Because of tax compression caused by recent legislation, the overall EMS tax rate will drop 18.74 cents in 2023-2024.
The proposed November 2023 School Bond Election is projected to increase the EMS ISD I&S tax rate by one tenth of a penny (1/10). This equates to a $2.42 annual increase on the average primary homesteaded residence.
Regardless of the outcome of the Homestead Exemption amendment, the proposed November 2023 School Bond Election is expected to cost the average EMS taxpayer less than $3 per year on the average primary homesteaded residence.
Residents 65 years and older who apply for the Homestead Exemption will see no school tax increase as a result of the EMS bond proposal.
What Happens If the Bond Propositions Are Approved?
If the bond propositions are approved, the district will sell bonds to fund projects as capacity allows and market interest rates are favorable. Projects will be phased in and completed as enrollment growth warrants.
What Happens If One or More of the Bond Propositions are Rejected?
EMS would only move forward on the propositions that receive voter approval. If the bond propositions are not approved, EMS ISD will consider alternative options for managing anticipated student growth. These options for Texas school districts include utilizing portable buildings, implementing attendance rezoning, adjusting class sizes, making operational budget cuts, and/or proposing future bond elections. The district may also reconsider proposed replacement cycles for equipment and technology devices currently in use.