THANK YOU KARNACK!
The KISD Board and District are thrilled to announce that our bond election has passed, and our community has chosen to invest in the future of our school! Thank you voters, parents, and community members who supported the November 2023 bond election! Thank you for your trust and commitment to the district. With the combination of unity and collaboration within the community, we are able to purchase three (3) buses and two (2) transportation vehicles.
WHAT'S PROPOSED
The Board of Trustees of Karnack ISD have called for a Bond Election to be held on November 7, 2023, to allow district voters to decide on a Transportation Plan for the District.
Proposition A, the only proposition on the ballot, calls for a bond in the amount of $575,000. If approved, the bond will address the transportation needs of Karnack ISD. These bonds will be used to purchase the items below:
• Three (3) new School Buses
• 2 District Transportation vehicles
If approved, the bonds will be sold in 2024 and are expected to be paid off entirely within five (5) years.
TAX IMPACT
If approved, the Transportation Plan will require an I&S tax rate increase of 4.5 cents per $100 valuation. The owner of a $125,000 home in KISD would pay approximately 94 cents in additional taxes per month.
Taxpayers who are 65 years of age and older, who have applied for and received their Over-65 Homestead Exemption, have their taxes "frozen" and will see no tax increase as a result of this bond.
| HOME VALUE |
HOME VALUE W/ EXEMPTIONS
|
MONTHLY TAX INCREASE
|
| $100,000 |
$0 |
$0.00 |
| $127,139 |
$27,139 |
$1.02 |
| $150,000 |
$50,000 |
$1.88 |
| $175,000 |
$75,000 |
$2.81 |
| $200,000 |
$100,000 |
$3.75 |
| $225,000 |
$125,000 |
$4.69 |
| $250,000 |
$150,000 |
$5.63 |
| $275,000 |
$175,000 |
$6.56 |
| $300,000 |
$200,000 |
$7.50 |
FISCAL RESPONSIBILITY
Karnack ISD committed to the responsible fiscal stewardship of district funds. KISD has lowered its district tax rate from $1.0400 per $100 valuation in 2015-2016 to $0.6692 in 2023-2024, a difference of roughly 37 cents over the last eight years. The district's tax rate of $0.6692 in 2023-2024 is roughly 20 cents lower than last year's tax rate.
A look at annual tax rate in KISD since 2015-2016:
| YEAR |
TOTAL TAX RATE
|
| 2015-2016 |
$1.0400 |
| 2016-2017 |
$1.0400 |
| 2017-2018 |
$1.0400 |
| 2018-2019 |
$1.0400 |
| 2019-2020 |
$0.9700 |
| 2020-2021 |
$0.9664 |
| 2021-2022 |
$0.9571 |
| 2022-2023 |
$0.8779 |
| 2023-2024 |
$0.6692 |
HOW DOES KISD'S TAX RATE COMPARE?
Compared to other districts in the immediate East Texas area, Karnack ISD's tax rate was the lowest overall tax rate in 2022-2023:
| SCHOOL DISTRICT |
TOTAL TAX RATE* |
| Longview ISD |
$1.32760 |
| Ore City ISD |
$1.24820 |
| Tatum ISD |
$1.20700 |
| Marshall ISD |
$1.15170 |
| Beckville ISD |
$1.13738 |
| Waskom ISD |
$1.13390 |
| Atlanta ISD |
$1.10790 |
| Carthage ISD |
$1.08460 |
| Harleton ISD |
$1.01290 |
| Hallsville ISD |
$1.00640 |
| New Diana ISD |
$0.99907 |
| Jefferson ISD |
$0.98550 |
| Avinger ISD |
$0.94290 |
| Linden-Kildare CISD |
$0.94290 |
| McLeod ISD |
$0.94290 |
| Elysian Fields ISD |
$0.89390 |
| Karnack ISD |
$0.87790 |
FREQUENTLY ASKED QUESTIONS
Q: What is a bond election?
A: School districts are required by state law to ask voters for permission to sell bonds to investors in order to raise the capital dollars required for projects such as renovation to existing buildings, or building a new school, or purchasing new school buses. Essentially, the voters are giving permission for the District to take out a loan and pay that loan back over an extended period of time, much like a family takes out a mortgage loan for their home. A school board calls a bond election so voters can decide whether or not they want to pay for proposed facility projects. School boards then have the authority to sell bonds when facilities are needed.
Q: How can bond money be spent?
A: Bond funds can be used to pay for new buildings, additions and renovations to existing facilities, land acquisition, technology infrastructure and equipment for new or existing buildings. Bonds cannot be used for salaries or operating costs such as utility bills, supplies, building maintenance, fuel, and insurance.
Q: How does school funding work in Texas?
A: Texas school districts are funded by three major sources: federal, state, and local. Two factors drive school finance in Texas: enrollment and local property values. A school district tax rate has two distinct components which added together make up the annual school tax rate.
Maintenance and Operations (M&O) funds are used to fund the day-to-day operations of a school district, including teacher and staff salaries; utilities; student services and curriculum; professional development; and facility maintenance and management.
Interest and Sinking (I&S) funds are generated from the sale of voter-approved bonds. These funds are restricted for use only for projects such as the construction of new facilities; additions and renovations to existing facilities; safety and security projects; and purchase of capital expense items such as buses and large technology expenses.
School property taxes are set by an annual M&O plus I&S tax rate approved by the district’s Board of Trustees.
Q: Who determines my property value?
A: Actual property values are determined annually by local appraisal districts. School districts have no control over and do not set local property values.
Q: If I am 65 years or older, will my taxes increase?
A: No. Taxes are “frozen” for taxpayers age 65 and over or disabled persons under the Homestead Exemption application. These taxpayers see no increase in their tax rate as a result of a school bond election.