Monthly Tax Impact
- The 2007 bond will be paid off in 2032.
- The 2013 bond will be paid off in 2043.
- Since 2015, the Board of Trustees has taken advantage of decreasing interest rates and refinanced existing bonds resulting in a savings of $10,509,831 for taxpayers.
- This bond will not impact the taxes of senior citizens with an Age 65 Freeze on their homesteads and no significant improvements beyond normal repairs made to the home.
- For the rest of the community, Prop A and Prop B will increase the I&S tax rate by 12.14 cents. For a $250,000 CSISD home, this would mean an additional $22.76 a month. (For comparison purposes, the 2013 bond totaling $15,310,000 was a projected tax increase of 15.5 cents.)
- Since the 2013 bond, the Board of Trustees has voted to lower the District’s tax rate by 28.26 cents.
2 things to keep in mind regarding the tax rate:
1. When the solar farm comes online in 2022, the District expects a 1.6 cents reduction in the overall tax rate.
2. As more homes are built and more families move into CSISD, the individual tax burden also goes down because more families are contributing to the CSISD tax base.