Tax Impact

The following table shows four possible outcomes of the election and the expected impact on school tax if the State Constitutional Amendment to increase the Local Homestead Exemption to $100,000 is approved.

Appraised Value of Home

Less Homestead Exemption

2022 Annual School Tax

2023 Annual School Tax if both props pass
(0.967)

2023 Annual School Tax if only the Bond passes
(0.937)

2023 Annual School Tax if only the VATRE passes
(0.967)

2023 Annual School Tax if both props fail
(0.937)

$100,000

$0

$656.76

$0.00

$0.00

$0.00

$0.00

$150,000

$50,000

$1,204.06

$483.50

$468.50

$483.50

$468.50

$200,000

$100,000

$1,751.36

$967.00

$937.00

$967.00

$937.00

$250,000

$150,000

$2,298.66

$1,450.50

$1,405.5

$1,450.50

$1,405.5


The following table shows four possible outcomes of the election and the expected impact on school tax if the Local Homestead Exemption remains at $40,000.

Appraised Value of Home

Less Homestead Exemption

2022 Annual School Tax

2023 Annual School Tax if both props pass
(0.967)

2023 Annual School Tax if only the Bond passes
(0.937)

2023 Annual School Tax if only the VATRE passes
(0.967)

2023 Annual School Tax if both props fail
(0.937)

$100,000

$0

$656.76

$580.20

$562.20

$580.20

$562.20

$150,000

$50,000

$1,204.06

$1,063.70

$1,030.70

$1,063.70

$1,030.70

$200,000

$100,000

$1,751.36

$1,547.20

$1,499.20

$1,547.20

$1,499.20

$250,000

$150,000

$2,298.66

$2,030.70

$1,967.70

$2,030.70

$1,967.70


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