If passed, this proposal will not raise your school property tax rateˆ. This is possible because of several factors. First, new homes in our district are priced considerably higher than in past years providing us with higher property values. And, thanks to Wylie ISD’s history of sound financial management and fiscal responsibility, we have one of the highest credit ratings of any educational organization. These factors, combined with the strong bond market, have allowed us to refinance current bonds and increase our bonding capacity without raising the school tax rate.
No Impact on Senior Citizens' Property Taxes
Wylie ISD property taxes for citizens age 65 or older will not be affected by the bond election as long as a homestead and over 65 exemption application have been filed with the local appraisal district.
According to 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 – regardless of changes in tax rate or property value – unless significant improvements are made to the home.
ˆassuming assessed values do not decrease