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Financial Impact

Westwood ISD has a proven track record of sound financial management and has maintained one of the lowest I&S tax rates in the state of Texas for more than 20 years and has carried zero bond debt since 1998, 20 years ago when the last bond from more than 40 years ago was paid off.
 

The estimated financial impact to taxpayers will be $29.38 per month on a $100,000 home compared to the estimated impact of $31 per month for the previous May 2019 Bond proposal. The actual net financial impact is anticipated to be $23 per month after the recent state-mandated 10-cent tax compression.

Property taxes for citizens 65 years or older who have filed the “Over 65 Homestead Exemption” will not increase because of the bond proposal. Under the over 65 homestead exemption taxes are frozen at the dollar amount of the year the individual turned 65 and regardless of future tax rate increases, the tax levy for the 65-year-old can never escalate beyond the ceiling dollar amount unless significant improvements are made. If decreases in property value, tax rate declines, or change in exemptions cause the tax levy to fall below the ceiling amount, the over 65 taxpayers will pay the lower tax bill.