Your public school taxes involve two figures: Maintenance and Operations (M&0), used to pay for salaries, utilities, furniture, supplies, food, gas, etc.; and Interest and Sinking (I&S), used to repay debt. Bond elections affect the Interest and Sinking tax rate.
Currently, Pflugerville ISD’s Interest & Sinking (I&S) tax rate, is $0.50. When combined with the district’s Maintenance & Operations (M&O) tax rate of $1.04, the total tax rate for Pflugerville ISD is $1.54.
Based on PISD’s estimated taxable property values and current interest rates, the district has a capacity to issue bonds up to approximately $361 million within the existing tax rate. Therefore, if approved, this bond election, of a proposed $287 million, will be funded within the district’s existing tax rate and will create no change to the existing tax rate.
How is This Possible?
Increasing property values due to housing growth and industrial business development have increased the amount of revenue the district collects. These increased revenues will allow new debt to be issued without raising the tax rate. In the past 10 years, the district has experienced approximately 40% growth in taxable values. The chart to the left reflects Pflugerville ISD's historical assessed taxable value since 2004.
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