Utopia ISD Tax Bill Impact
If voters approve the bond, there will be a 50-cent I&S tax rate impact. For the average home value of $239,888 in Utopia ISD, the monthly change from your 2022 tax bill equates to -$11.05.
No Tax Rate Increase for 65+
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. For more information, Click HERE.
Calculate the monthly tax rate impact according to your home value.
How is the district’s tax rate configured?
Tax Rate History
Over the past 20 years, Utopia ISD’s tax rate has decreased 73 cents.
The district has held a $0.00 I&S tax rate over the last 20 years. If the bond passes, it will increase Utopia ISD’s I&S tax rate to 50 cents. The total tax rate for Utopia ISD will be $1.1692 beginning in the year of 2025.
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.
UTOPIA ISD
BOND CAPACITY
With the approval of the Utopia ISD voters, the District will be granted the authorization to issue bonds in an amount not to exceed $58 million over the next 10 years.
