By Michael V. Hannigan
Athens ISD’s proposed $59.9 million bond package will fund construction at every district campus (except the Middle School) and Bruce Field. But what will it cost taxpayers?
That question is a little more complicated than it would normally be, through no fault of the school district.
The simple answer is, if approved, the bond would add about .24 cents to the AISD tax rate.
The exact amount won’t be known until the district actually sells the bonds, but AISD Chief Financial Officer Randy Jones said the most the tax rate would increase is .24093. He said the increase could be lower than that.
What is the actual impact in dollars? That’s where things get interesting, thanks to the State Legislature.
When voters go to the polls in November for the AISD bond, they will also see Proposition 1 on the ballot, a proposed amendment to increase the school property tax homestead exemption from $15,000 to $25,000. The measure is geared to lower property taxes and is expected to pass easily.
Proponents say that change will minimize the bond’s tax increase for AISD residents.
If both Proposition 1 and the bond are approved, and the tax rate remains the same except for the bond, it means Athens ISD residents owning a $100,000 home with a homestead exemption will see a $61 a year increase in 2016-17 over what they pay in 2014-15. (No figures are currently available for 2015-16.)
Property valued at $100,000 that does not have a homestead exemption will see about a $240 a year increase.
Individuals 65 and older who have a homestead exemption will not see any increase in school taxes.