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Tax Information

How Public School Taxes Work

Public school taxes involve two figures, which divide the school district budget into two “buckets.”

The first bucket is the Maintenance and Operations tax (M&O), which funds daily costs and recurring or consumable expenditures, such as teacher and staff salaries, supplies, food and utilities. In fact, more than 80% of the District’s M&O budget goes to teacher and staff salaries.

 

M & O

 

The second bucket is the Interest and Sinking Fund (I&S), also known as Debt Service, 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 for utilities and services.

 

I & S

 

Bond Tax Impact

The maximum tax impact anticipated for this bond is a 32 cent increase. That equates to roughly an additional $26 a month, or $320 annually, on a home valued at $100,000. School district taxes are frozen for residents who are 65 and older and have filed for an Over 65 Homestead Exemption. Their taxes will not increase as a result of a school bond election. Homestead exemptions are also available for individuals with disabilities and qualifying veterans/surviving spouses. Click here for more information about property tax exemptions.