Tax History

  • A big question you might have is “how does this affect our taxes?" From 2005-2007, Sheldon ISD reduced taxes and since then, tax rates have remained relatively steady.
     
    Public school taxes involve two types of taxes:
    • General Operating Fund (M&O)- These funds are used to pay for salaries, utilities, supplies, furniture, food, etc.
    • Interest and Sinking (I&S)- These funds are used to repay debts and are affected by the bond elections.

     

    2005

    2006

    2007 

    2008

    2009

    2010

    2011

    2012

    2013 

    2014

    2015 

    General Operating Fund (M&O)

    1.500

    1.370

    1.040

    1.040

    1.040

    1.040

    1.090

    1.090

    1.170

    1.170

    1.170

    Debt Service Fund (I&S)

    0.250

    0.264

    0.390

    0.390

    0.390

    0.390

    0.340

    0.340

    0.260

    0.260

    0.240

    Total Tax Rate

    1.750

    1.634

    1.430

    1.430

    1.430

    1.430

    1.430

    1.430

    1.430

    1.430

    1.410

Tax Impact

  • The estimated tax impact of the May 2016 bond will affect the I&S portion of the tax, and will range from an estimated $4.72/month to $23.58/month, under the scenarios presented below.

    Based on historical data, Sheldon ISD has a 10-year value growth rate of 217%, which will help limit the tax increase on new bond sales. We set the tax rate for each year based on the taxable value and amount due on the bond repayment schedule and used a very conservative estimate of 2.5% yearly value growth to develop our projected tax rate.
     
     
     
     
     
    Impact on Senior Citizen's Property Taxes
     

    Under state law, the amount of school taxes imposed on a person over 65 who has filed an exemption application may not be increased above the amount paid in the first year after the person turns 65. However, if there is a significant improvement on the current property driving the property value up, the person may pay more based on the new value.