If approved by voters, this bond would not increase the district's tax rate. However, a new state law now requires every school district to include the statement "THIS IS A PROPERTY TAX INCREASE" on the ballot, regardless of the actual impact on that district's tax rate.
$1.1962 in 2018
$1.1262 in 2019
$1.0435 in 2020
$0.9970 in 2021
The board has decreased the district's overall tax rate every year for the last three years. Blanco ISD's current M&O rate is $0.882 and the I&S rate is $0.115, for a total tax rate of $0.9970 per $100 of property value.
UNDERSTANDING THE TAX RATE
Public school taxes involve two figures which divide the school district's budget into two "buckets." The first is the Maintenance & Operations (M&O) budget, also known as the General Fund. The M&O fund is used to pay for the day-to-day operations of a district and includes items such as salaries, utilities, fuel, supplies, minor repairs, etc.
The second is the Interest & Sinking (I&S) budget or Debt Service. This fund is used to repay debt for capital improvements approved by voters through bond elections. The debt is spread out over an extended period much like a homeowner's mortgage or a home improvement loan. Revenue from the debt service tax rate can be used only to retire bonds sold for specific purposes. Bonds cannot be used for salaries, utilities and other such operating expenses.
