by Coy Holcombe.
Soon, residents in our district will be receiving property tax statements from EISD. The tax rate for our district is made up of two separate components: maintenance and operations ( M & O) and interest and sinking (I & S). The M & O portion helps pay for the daily operation of the district. Salaries, utilities, supplies, travel, and contracted services are all paid partially from the M & O tax rate. The state also supplies M & O funding for districts.
The I & S rate pays for the voter approved bonds that the district has sold. While the state provides some additional funding in this area, the vast majority for bond payments comes from local taxpayers.
For the 2009-2010 school year, the EISD Board of Trustees has set the overall tax rate at $1.258. The M & O rate is $1.04 and the I & S rate is $.2180. These rates are exactly the same as in 2008-2009. Below is a chart that compares the tax rates for our district from 2000 through the current tax year:
|M & O||I & S||Total|
A couple of notes: In 2003, the overall tax rate stayed the same as the previous two years; however, in order to maximize our state funding, the I & S rate was lowered and the M & O rate was increased. In 2005, there was a substantial increase in the M & O rate. This was the year that bonds were sold for the classroom construction projects. In 2007, there is a sharp decrease in the M & O rate. This was the year that the new state funding system went into place. If you ever have questions about property taxes or property tax rates, please feel free to contact me at email@example.com.