Tax Rate Information
Understanding School District Tax Rates
Public school taxes involve two figures, which divide the school district budget into two “buckets.”
The first bucket is the Maintenance and 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 teacher salaries, classroom supplies, utilities, and transportation.
The Second is the Interest & Sinking (I&S) budget or Debt Service Fund. This is used to repay debt for capital improvements approved by voters through bond elections for items such as land, construction, renovation, technology, and buses. This fund is similar to a mortgage or home improvement loan.
Funds from a bond issue can be used for 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 the rising costs of utilities or services.
Estimated Tax Impact of the Bond Proposal
The proposed stadium cost of $39,978,837 will be at no tax rate increase to taxpayers.
On August 22, 2022 the Stephenville Independent School District Board of Trustees approved a tax rate of $1.1474 per $100 of valuation which consisted of $0.8646 for Maintenance and Operations (M&O) and $0.2828 for Interest and Sinking (I&S). The $0.2828 I&S tax rate adequately covers the cost of future proposed bond payments.
Stephenville ISD - 5 Year Historical Tax Rate Review
Tax Rate Comparison
Voters 65 and Over