Bond 2018 FAQs: Regarding Property Tax Rates
Will our taxes increase with the SISD 2018 Bond?
The District will not increase the tax rate. Any increases will be due to the Bexar County Appraisal District’s increase in property values which Southside ISD does not control.
How is it that this bond is not increasing our property taxes?
Throughout time the District has refinanced bonds to a lower interest rate, thereby freeing up tax dollars to pay for new bonds. Additionally, the natural increase in property values and new development in Southside ISD has afforded the opportunity for the District to do more with the same (or less) in tax rate.
Over the course of the life of the bond will our taxes increase?
Projections are that the tax rate will not increase due to this bond as far as we can see. Unforeseen circumstances may change that fact. For example, if local companies that generate high property values move out of the District. Now, your tax payment may increase, but that is due to the natural increase in property values as set by the Bexar County Appraisal District, not Southside ISD.
How were you able to lower property taxes?
(Also refer to second answer)…the natural increase plus the refinancing have allowed us to do more with less. We have been applauded by the national rating agency for our ability to manage our finances. SISD currently has a coveted credit rating of A1. For more information see the Adopted Tax Rates on the Business & Finance Department page at southsideisd.org.