The May 2019 bond requires no tax rate increase; those over 65 have their EISD taxes frozen. The 2019 bond accommodates prepaying existing debt, as well as allows for accelerated debt payments on the proposed bonds. This bond will take pressure off of the District's Maintenance and Operations (M&O) budget, which is used primarily to pay for teacher salaries and benefits and day-to-day expenses, such as utilities and fuel.
Maintenance & Operations (M&O)
For every $1 collected from taxpayers, Eanes ISD keeps approximately $0.34
- M&O money funds day-to-day expenses, such as teacher salaries and campus utilities. Teacher salaries total approximately 85% of the District's M&O budget.
- Approximately 66 percent of the M&O taxes received by Eanes ISD is taken by the State of Texas under the "Robin Hood" plan for the State's General Fund.
- The recapture rate for Eanes ISD has increased by approximately 10 percent each year, totalling more than $1 billion since 1995.
For every $1 received, Eanes ISD keeps 100 percent
- Bond money is used for capital expenditures, buses and technology.
- Bond money can be used to pay certain capital expenses that might otherwise be funded for Maintenance & Operations (M&O) money. Bond money cannot be used for teacher salaries, however, it can alleviate additional expenses so more M&O funds are available.
Homeowners with an over 65 homestead exemption will not see an increase in their taxes because their tax bills were frozen in the year they turned 65 (unless new improvements are made to the home). To have property taxes frozen, a taxpayer who is 65 or older, must file an application with the Travis County Central Appraisal District. The District receives less money from homeowners with an over 65 homestead exemption due to the increased recapture rate.
Increased Property Tax Dollars
Based on the most recent certified value of taxable property within the District, as an individual homeowner's property value increases, for each additional dollar increase in the taxable value of property, Eanes ISD keeps approximately five cents of each maintenance dollar collected, while the State of Texas receives approximately 95 cents of each maintenance tax dollar collected as part of the State's recapture program. The District receives less money from homeowners with an over 65 homestead exemption due to the increased recapture rate.
With a bond program, each bond dollar remains within Eanes ISD and may be applied directly to capital expenditures, buses and technology. Bond dollars may not be applied to teacher salaries. Approved bond dollars have the ability to relieve the Maintenance & Operations (M&O) budget, as they are not subject to property tax rise and falls, allowing M&O dollars to remain allocated on items such as teacher salaries and campus safety measures.
Los documentos se encuentran disponible en las oficinas del Edificio Central de la Administración del Distrito Escolar de Eanes en Camp Craft Road, número 601, Austin, Texas 78746. En la red: (www.eanesisd.net) / o al llamar al número de teléfono 512-732-9011.