TAX IMPACT
The proposed bond election, if successful, will raise the I&S tax rate by approximately 15.6 cents. The chart below illustrates the potential monthly impact to homeowners within La Vega ISD. The average home value in LVISD is $63,000.
If the bond election is successful:
| Year |
M&O Tax Rate |
I&S Tax Rate |
Total Tax Rate |
Difference |
| 2009-2010* |
$1.04 |
$0.1989 |
$1.2389 |
|
2010-2011
Estimated Tax Rate |
$1.04 |
$0.3550 |
$1.3950 |
$0.1561 |
*Current Tax Rate
| Home Value* |
2009-2010 Current Monthly Taxes
@ $1.2389 |
2010-2011 Estimated Monthly Taxes
@ $1.3950 |
2010-2011 Estimated Monthly Increase
@ $1.3950 |
| $50,000 |
$36.13 |
$40.69 |
$4.56 |
| $75,000 |
$61.95 |
$69.75 |
$7.80 |
| $105,000 |
$87.76 |
$98.81 |
$11.05 |
*ALL Homeowners qualify for State-Mandated $15,000 Mandatory Homestead Exemption
PLEASE NOTE:
Taxpayers 65 years of age and older who have applied for and received the Age 65 Freeze on their homestead will NOT pay any additional school taxes on their homes above their frozen level if the election is successful.
