No Tax Rate Impact for Voters 65+ and/or Disabled
Under state law, the dollar amount of school taxes imposed on the residence homestead of a person 65 years of age or older cannot be increased above the amount paid in the first year after the person turned 65 or became disabled. This freeze applies regardless of changes in tax rate or property value, unless there are new improvements/additions to the homestead.
YOU MUST APPLY FOR THIS EXEMPTION.
How is Big Spring ISD’s tax rate configured?
A school district’s tax rate is comprised of two components: the Maintenance & Operations tax (M&O) and the Interest & Sinking tax (I&S). The M&O rate is used to operate the school district, including salaries, utilities, furniture, supplies, food, gas, etc. The I&S rate is used to pay off school construction bonds. Bond sales only affect the I&S rate.
Tax Information
Big Spring ISD’s Tax Rate Comparison
Big Spring ISD currently has one of the lowest tax rates compared to other districts in the area. If the 2024 bond referendum passes, Big Spring ISD’s tax rate will still remain below many surrounding districts.
Big Spring ISD’s Tax Rate History
Since 2017, Big Spring ISD’s tax rate has decreased by 45%. If the 2024 bond referendum passes, the district’s tax rate will still remain below the total rate in 2017.