• 2022 bond

Public School Taxes 101

  • Public school taxes involve two figures, which divide the school district budget into two “buckets.” The first bucket is the Maintenance and Operations budget (M&O), which funds daily costs and recurring or consumable expenditures such as teacher and staff salaries, supplies, food, and utilities. Most of the district’s M&O budget goes to teacher and staff salaries.

    The second bucket is the Interest and Sinking Fund (I&S), also known as Debt Service, and that is used to repay debt for capital improvements approved by voters through bond elections. Proceeds from a bond issue can be used for the 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 to pay M&O expenses, which means that voter-approved bonds cannot be used to increase teacher salaries or pay rising costs of utilities and services.

    DISTRICT TAX RATE

    Wills Point ISD has one of the lowest tax rates of any school district in Texas; currenlty ranking #946 out of 1000 districts.
    WPISD has decreased the total tax rate over the last four years, from a previous $1.14 to the current $.93; lower than any surrounding district. 

    HOW WILL PASSING A BOND AFFECT CURRENT PROPERTY TAX RATES?

    Due to conservative fiscal management by Wills Point ISD, WPISD tax payers have not paid I&S taxes since 2016, resulting in one of the lowest tax rates in the state. Due to growth within our district boundaries, if approved by voters, the 2022 Bond will produce a $.37 increase for taxpayers. The chart below shows how that tax rate would be comparable to other districts in our two counties:

    tax implications

    HOW WILL A $.37 TAX RATE INCREASE AFFECT MY MONTHLY AND ANNUAL PAYMENTS?

    Below is a chart of the INCREASE a property owner will encounter: 

    tax rates