Tax Information
Tax Impact
If all propositions on the Callisburg ISD bond referendum pass, the district projects a tax rate impact of $0.1020. For the average home in CISD valued at $270,604, that impact would be $23.02 a month.
Learn more about the district’s tax configuration and previous tax rate history below.
Monthly Impact Based on Home Value
* Monthly impact includes $100,000 homestead exemption. All Texas homeowners are eligible to receive a $100,000 State Homestead Exemption on school taxes. (e.g. $200,000 home value less $100,000 mandatory homestead exemption equals $100,000 in taxable value)
DID YOU KNOW?
Callisburg ISD’s total tax rate has decreased by $0.47 since 2018.
If all 3 propositions on the bond referendum pass, the new total tax rate of $0.8639 would still be lower than rates prior to 2024.
Callisburg ISD has the second lowest tax rate compared to districts in the surrounding area.
If all 3 propositions on the bond referendum pass, the new total tax rate of $0.8639 would still be the second lowest in the area.
In addition, Callisburg ISD has the lowest tax rate when compared to K-12 school districts in the area (Walnut Bend is a K-8 district).
School Finance 101
A school district’s tax rate is comprised of two components: the Maintenance & Operations tax (M&O) and the Interest & Sinking tax (I&S). Bond sales only affect the I&S rate.
How is Callisburg ISD’s tax rate configured?
What is M&O and I&S?
Maintenance and Operation (M&O) funds are primarily used for the ongoing operational needs of the district. These funds ensure that the schools can function on a day-to-day basis. They include:
Utilities
Supplies
Salaries
Interest and Sinking (I&S) funds are used for paying off debt incurred by the school district, typically for:
Construction of new school buildings
Renovation or major repairs of existing facilities
Purchase of large equipment or other capital investments
Tax Exemption Information
If you qualify for an age 65+ or disabled person residence homestead exemption, the school district taxes on your residence homestead cannot increase above your established tax ceiling, as long as you own and live in the home and do not make any new improvements or additions to it. The tax ceiling is the amount you paid in the year you first qualified for the exemption. While your school district taxes may decrease, they cannot exceed that ceiling.
You must apply for this exemption.
Why will my ballot say, “THIS IS A PROPERTY TAX INCREASE”?
In 2019, the Texas Legislature passed a law requiring all school bond election ballots to include the statement: “THIS IS A PROPERTY TAX INCREASE.” This language is mandatory on every bond ballot, regardless of any exemptions a voter may have.
If you have an approved residence homestead exemption, the passage or failure of this bond will not increase your school district taxes above your tax ceiling.
