Tax Information
Learn about the tax details of the Channelview ISD 2019 Bond in addition to how school district finance works and how the tax structure of Channelview ISD might be changed by this bond.
SCHOOL FINANCE:
The local tax efforts for public schools involve two figures:
MAINTENANCE & OPERATIONS (M&O), used to pay salaries, utilities, furniture, supplies, food, gas, etc. For the average citizen, this is similar to house repairs, car fuel, groceries, cleaning supplies, utilities, etc.
INTEREST & SINKING (I&S), used to repay debt for the construction and renovation of facilities, the acquisition of land and the purchase of equipment, technology and transportation. For the average citizen, this is similar to a new home purchase, home renovations, land purchase, new kitchen appliances, etc.
The M&O tax rate is capped at $1.04 per $100 of property value. The $1.04 cap does not require voter approval. The I&S tax rate is capped at $0.50 per $100 of property value. Every cent of the $.50 cap requires voter approval in a bond election.
Bond elections only affect the I&S tax rate. I&S funds cannot, by law, be used to pay M&O expenses, which means that
voter-approved bonds cannot be used to increase teacher salaries or pay rising costs for utilities and services.
SCHOOL DISTRICTS' BUDGETS ARE GENERATED FROM 3 SOURCES
TAX IMPACT:
Currently, Channelview ISD’s I&S tax rate is $0.356 with the M&O tax rate standing at $1.04 for a total tax rate of $1.396. The current rate is the lowest it has been in 7 years and is the second lowest tax rate when compared to surrounding school districts.
TAX RATE COMPARISON
TAX RATE HISTORY
Since approved, the estimated tax impact of this bond is anticipated to be a maximum of 11.75 cents for a total tax rate of $1.5135 per $100 valuation. This equates to an increase of approximately $9.30 a month for the average home valued at $120,000.
