Tax Information
Public school taxes involve two figures, which divide the school district budget into two “buckets.”
Maintenance and Operations (M&O): Funds daily costs and recurring or consumable expenditures such as teacher and staff salaries, supplies, food and utilities. Similar to a checking account
Interest and Sinking Fund (I&S): Used to repay debt for capital improvements approved by voters through bond elections. Similar to a mortgage
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, I&S funds cannot be used to pay M&O expenses, which means that voter-approved bonds cannot be used to increase teacher salaries or pay rising costs for utilities and services.
VISD Historical Tax Rate
The district’s total tax rate is estimated to increase by 7 cents. The tax impact on the average $230,000 home in Venus ISD would be $1.75 a week or $7.58 a month.
The total tax rate would remain 24.4¢ lower than it was in 2019.
$0 increase for voters over 65
VISD property taxes for citizens aged 65 or older would not be affected by the bond election as long as a homestead and over 65 exemption application have been filed with the local appraisal district.
According to state law, the dollar amount of school taxes for a person 65 years of age or older cannot be increased above the amount paid in the first year after the person turned 65 regardless of changes in tax rate or property value unless improvements are made to the home.