Bond 2024 Tax Information

Bond Election May 4, 2024
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Tax Impact

The Hempstead ISD tax rate is the lowest it has been in 20 years. With the $0.1378 tax rate increase, Hempstead ISD will still have the lowest tax rate in comparison to neighboring school districts in Waller County.

This equates to an estimated impact of $15.57 per month for a home valued at $235,557 (the average market value for a home in Hempstead ISD).

Tax Exemption Form

Over 65 Homestead Exemption

Hempstead ISD property taxes for citizens ages 65 or older would not be affected by the bond election as long as a homestead and over 65 exemption application has been filed with the local appraisal district.

According to state law, the dollar amount of school taxes for 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 improvements are made to the home.

For more information on the over 65 exemption, visit the Waller County Appraisal District website.

Understanding the Tax Rate

School Taxes Include Two Tax Rates

Public school taxes involve two figures that divide the school district budget into two “buckets.”

The first bucket is the Maintenance and Operations budget (M&O), which funds daily costs and recurring or consumable expenditures such as teacher and staff salaries, supplies, food and utilities.

The second bucket is the Interest and Sinking Fund (I&S), also known as Debt Service, which is used to repay debt for capital projects approved by voters through bond elections.

Proceeds from a bond issue can be used to renovate facilities, update building infrastructure, and purchase capital items such as equipment, buses, and technology. By law, I&S funds cannot be used to pay M&O expenses, which means that voter-approved bonds cannot be used to increase teacher salaries or pay rising costs for utilities and services.