Property Owners age 65 and older, have their taxes frozen and do not rise with any increase in the tax rate, provided they file proper paperwork with the appraisal district.
Source: State Law, Jasper County Appraisal District
Buna ISD currently received approximately half of the bond payment each year from State assistance. Projections indicate that the District will receive approximately 31% of the combined new and existing bond payment from the State. Therefore, State aid will increase by approximately $200,000 per year to help pay the debt payment. Annual State Assistance adjusts based on local values and student attendance up to a maximum debt service tax rate of $0.29.
Source: District information.
Impact on Local Homeowners (Increase in taxes per Year / per Month):
|Appraised Value||Homestead Exemption||Taxable Value||$20 Million Bond Issue|
|60,000||$15,000||45,000||125.82 / 10.49|
|70,000||$15,000||55,000||153.78 / 12.82|
|80,000||$15,000||65,000||181.74 / 15.15|
|90,000||$15,000||75,000||209.70 / 17.48|
|100,000||$15,000||85,000||237.66 / 19.81|
|125,000||$15,000||110,000||307.57 / 25.63|
|150,000||$15,000||135,000||377.47 / 31.46|
Source: Estimates provided by U.S. Capital Advisors.