Due to recently projected increases in taxable value, Spring Branch ISD Superintendent of Schools Duncan Klussmann has announced that the district’s proposed $597.1 million bond issue will require a lower tax rate than originally projected.

Based on final, certified values recently received from the Harris County Appraisal District, a 9.75 cent tax increase has been reduced to an estimated 6.95 cents to pay for SBISD’s proposed construction and renovation plan.

If approved by Spring Branch voters on Tuesday, Nov. 6, the bond will replace 12 older elementary schools, build new classrooms and upgrade safety, security, classroom technology, transportation and athletics across the district. SBISD educates more than 32,000 students.

For the owner of a $200,000 home in Spring Branch, the lower tax rate means that the bond issue will cost an estimated $100.78 per year, rather than the estimated $141 per year based on the higher tax rate. The same homeowner will pay about $8.40 more a month for new bonds. See chart below

This bond issue will not affect the school taxes of anyone 65 years or older or the disabled who have qualified for homestead exemption.

“We based our original projection of a 9.75 cent tax rate increase on a conservative scenario for SBISD. With these new, certified values from HCAD, we are pleased to announce that the projected tax rate reduction will be almost three cents lower,” Superintendent Klussmann said.

For budget planning purposes, a standard financing model is used to project the value of all residential and commercial property – the estimated tax roll – within SBISD and to predict as accurately as possible future bond financing needs.

Bond early voting begins Oct. 22 and ends Nov. 2 at several Harris County locations; Election Day is Tuesday, Nov. 6. For more information on the bond issue or a list of voting locations, please visit the SBISD Bond Facts found at www.springbranchisd.com.

BOND ELECTION IMPACT ON SBISD HOMEOWNERS
NOTE: Taxes for homeowners with the "Over 65" Exemption will be reduced this year. Taxes WILL NOT INCREASE for anyone over 65 or disabled with a homestead exemption.
Taxable Value	Less: 20% Local SBISD Homestead Exemption	Less: $15,000 State Exemption	Adjusted Taxable Value	Tax Increase Based on Bond Election $0.0695	Monthly Amount of Tax Increase from Bond Election		Tax Decrease From HB1  $   (0.3465)	Net Decrease
$           50,000	$     40,000	$     25,000	$     25,000	$      17.38	$     1.45		$     (86.63)	$     (69.25)
100,000	80,000	65,000	65,000	45.18	3.76		(225.23)	(180.05)
200,000	160,000	145,000	145,000	100.78	8.40		(502.43)	(401.65)
287,872	230,298	215,298	215,298	149.63	12.47		(746.01)	(596.37)
300,000	240,000	225,000	225,000	156.38	13.03		(779.63)	(623.25)
400,000	320,000	305,000	305,000	211.98	17.66		(1,056.83)	(844.85)
500,000	400,000	385,000	385,000	267.58	22.30		(1,334.03)	(1,066.45)
600,000	480,000	465,000	465,000	323.18	26.93		(1,611.23)	(1,288.05)
700,000	560,000	545,000	545,000	378.78	31.56		(1,888.43)	(1,509.65)
800,000	640,000	625,000	625,000	434.38	36.20		(2,165.63)	(1,731.25)
900,000	720,000	705,000	705,000	489.98	40.83		(2,442.83)	(1,952.85)
1,000,000	800,000	785,000	785,000	545.58	45.46		(2,720.03)	(2,174.45)
2,000,000	1,600,000	1,585,000	1,585,000	1,101.58	91.80		(5,492.03)	(4,390.45)
3,000,000	2,400,000	2,385,000	2,385,000	1,657.58	138.13		(8,264.03)	(6,606.45)
4,000,000	3,200,000	3,185,000	3,185,000	2,213.58	184.46		(11,036.03)	(8,822.45)
5,000,000	4,000,000	3,985,000	3,985,000	2,769.58	230.80		(13,808.03)	(11,038.45)
6,000,000	4,800,000	4,785,000	4,785,000	3,325.58	277.13		(16,580.03)	(13,254.45)
7,000,000	5,600,000	5,585,000	5,585,000	3,881.58	323.46		(19,352.03)	(15,470.45)