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
|