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Tax Impact

Understanding the Tax Rate

Public school taxes involve two figures which divide the school district’s budget into two “buckets.” The first is the Maintenance & Operations (M&O) budget. The M&O fund is used to pay for the day-to-day operations of a district and includes items such as salaries, utilities, food, gas, supplies, etc. Approximately 80 percent of Garner ISD’s M&O budget is spent on personnel salaries, benefits, and related costs.

The second is the Interest & Sinking (I&S) budget or Debt Service. This fund is used to repay debt for capital improvements approved by voters through bond elections. As a comparison, this fund is similar to a mortgage or home improvement loan. I&S funds may only be used to repay debt.

Proceeds from a bond issue can be used for the construction and renovation of facilities, the acquisition of land and the purchase of capital items, such as equipment, technology and transportation. By law, voter-approved bonds cannot be used to increase salaries or to pay rising costs of utilities or services.
 

Tax Calculator

TAX IMPACT

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M&O AND I&S RATE

ANNUAL AGRICULTURE LAND TAX INCREASE

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NOTE: Figures represent projections for the District's Financial Advisor based upon current market conditions, current market values for property types listed, and certain assumptions, which are subject to change. This chart is intended for reference only and taxpayers should consult the Parker County Appraisal District with any questions regarding their property type and other questions related to property taxes

Age 65+

There will be NO TAX RATE INCREASE if the proposed bonds pass. While there is no tax RATE increase, Texas State law requires “This is a property tax increase” to be on every school bond measure ballot.

General Operating Fund
 

(Maintenance & Operations)
Day-to-day operations and expenses

For school districts this includes:

  • Staff salaries

  • Utilities

  • Supplies

  • Repairs

  • Fuel

  • For the average citizen this is similar to:

  • Groceries

  • Utilities

  • Minor Home Repairs

  • Routine Services

  • Car Fuel

Debt Services Fund
 

(Interest & Sinking)
Principal and interest payments on debt issued

For school districts this includes:

  • New Construction

  • Renovations

  • HVAC Systems

  • Roofing

  • Technology

For the average citizen this is similar to:

  • Mortgage

  • Home Renovation

  • Major Appliances

  • Land

  • Car

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