The District's tax rate is comprised of two components: maintenance and operations (M&O) and debt service. The M&O supports the daily operations of the district, while debt service funds principal and interest payments on the debt owed by the school district. For 2011-2012, LTISD’s M&O tax rate is $1.04 while its debt service tax rate is $0.2759, for a total tax rate of $1.3159 per $100 of taxable property valuation. The District's tax rate has remained unchanged for the fourth straight year. Additionally, the District’s tax rate is the lowest it has been since the state equalization system of recapture—also known as Robin Hood—was established in 1993. For 2011-2012, LTISD anticipates sending approximately $28.3 million—or 47 percent of every M&O tax dollar collected in local property revenues—to the state through recapture. Currently, LTISD has one of the lowest tax rates among Central Texas school districts.
Estimated Annual Tax Impact
The estimated tax increase related to the bond will be $0.0924 for a total tax rate of $1.4083 per $100 of assessed property valuation. The 2011-2012 anticipated average market value of a residence in Lake Travis ISD is approximately $380,613. After the District’s 20% Optional Homestead Exemption and the State’s $15,000 Mandated Exemption, passage of the bond election would represent an increase of approximately $281.88 annually—or $23.49 monthly—for the average homeowner.
The following graph depicts the estimated annual tax rate impact to the average homeowner. Additionally, LTISD's average tax liability—or tax bill—will be the lowest among several Central Texas school districts. Please note, the actual amount a homeowner can expect to pay depends on both the tax rate and the certified, appraised value of the home.
Impact on Senior Citizens' Property Taxes
Residents who have received an ‘Over-65 Exemption’ or ‘freeze’ from the Travis County Appraisal District will incur no tax impact.
To obtain an Application for Residence Homestead Exemption from the Travis County Appraisal District click here
La información sobre el bono propuesto se puede obtener en español seleccionando el botón “Translate this Page” ubicado en la parte inferior derecha de cada página web. La información sobre el bono propuesto también se encuentra disponible en formato impreso en el edificio de la administración central y en cada escuela dentro del distrito.