Costs

The bonds, if approved by the voters, will be serviced by an estimated debt service tax rate (I&S) of approximately 26.1 cents. The District currently does not have an I&S rate for debt service. This chart below calculates the anticipated impact on Hereford ISD residential homesteads for the home values listed.

All qualified Texas Homeowners receive a $25,000 homestead exemption on school taxes. A home is taxed based on $25,000 below the appraised value of the home. For example, if a home has an appraised value from the County Tax Appraiser of $100,000 taxes are assessed on only $75,000.

If you are over the age of 65 or disabled, your home property taxes will not increase if you have qualified for the "Over 65" or "disabled" homestead exemption. This tax ceiling is on the homestead only, and may be adjusted up if major renovations are done to the property after the exemption is established. For more information on these exemptions, call the Deaf Smith County Appraisal District.