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  2. TISD Tax Information

TISD Tax Information

Understanding the Tax Rate

Public school taxes involve two figures which divide the school district’s budget into two “buckets.” 

The first is the Maintenance & Operations (M&O) budget, also known as the General Fund. This is used to pay for the day-to-day operations of a district and includes items such as salaries, utilities, travel, gas, supplies, etc. 

The second is the Interest & Sinking (I&S) budget or Debt Service. This fund is used to repay debt for capital improvements approved by voters through bond elections. This fund is similar to a mortgage or home improvement loan.

Funds from a bond issue can be used for the construction and renovation of facilities, the acquisition of land, and the purchase of capital items, such as equipment, technology, and transportation. By law, I&S funds cannot be used for the M&O budget, which means voter-approved bonds cannot be used to increase salaries or to pay for rising costs of utilities or services. 

Tax Calculator

Please Note: The projected tax increase is an estimate based on the passage of the bond propositions. 

Milam County: https://milam.countytaxrates.com/tax

Williamson County: https://tax.wilco.org/

Homestead Exemptions for 65 & Older

For residents 65 years and older, their school district tax bill will not increase, even if their property values increase (excluding new property improvements) as long as an approved Homestead and Over-65 Exemption application is on file with the Milam or Williamson County Appraisal District and the property has been owned as of Jan. 1 of the tax year. 

For more information about Homestead and Over-65 Exemptions, visit 

Agriculture Exemptions 

If your land qualifies for an agricultural appraisal, it could lower your taxable value.  Qualified agricultural lands are based on the land’s capacity to produce agricultural products, including timber, rather than its market value.  This method usually reduces your property tax bill.

Sample Ballot Language

THE ISSUANCE OF $34,500,000 OF BONDS FOR THE CONSTRUCTION, RENOVATION, IMPROVEMENT, ACQUISITION, AND EQUIPMENT OF SCHOOL BUILDINGS IN THE DISTRICT, INCLUDING NECESSARY SITES, AND THE LEVYING OF A TAX SUFFICIENT, WITHOUT LIMIT AS TO RATE OR AMOUNT, TO PAY THE PRINCIPAL OF AND INTEREST OF THE BONDS AND TO PAY THE COSTS OF ANY CREDIT AGREEMENTS EXECUTED OR AUTHORIZED IN ANTICIPATION OF, IN RELATION TO, OR IN CONNECTION WITH THE BONDS; THIS IS A PROPERTY TAX INCREASE.

TISD’s Tax Rate History

 

 

https://www.thorndale.txed.net/tisdbond   I   tisdbond@thorndale.txed.net    I   512-898-2538