Estimated Tax Impact Calculator
ESTIMATED TAX IMPACT
The estimated financial impact of the total 2018 bond proposal is anticipated to be $.1284 for a total combined rate of $1.3534. An increase to homeowners tax bill based on the assumed net value of $161,194 would be a monthly cost of $17.24 a month or $206.93 yearly.
IMPACT ON SENIOR CITIZENS' PROPERTY TAXES
Canyon ISD property taxes for citizens aged 65 or older or for disabled citizens are not affected by the bond election as long as a homestead and Over 65 exemption application has been filed with the local appraisal district.
Under state law, the dollar amount of school taxes imposed on the residence homestead of a person 65 years of age or older cannot be increased above the amount paid in the first year after the person turned 65 – regardless of changes in tax rate or property value – unless there are new improvements to the homestead that increase the value of the home.
Contact your local appraisal district with questions regarding the Over 65 exemption.