Projected Tax Impact
_edit.png)
If you qualify for an age 65+ or disabled person residence homestead exemption, the school district taxes on your residence homestead are capped and cannot increase above your approved tax ceiling - as long as you own and live in the home and do not make any improvements/additions. The tax ceiling is the amount you paid in the year you qualified for the exemption.
Projected Tax Impact Chart
.png)
If approved, the estimated tax impact is $9.83 for the average
Hereford ISD home valued at $173,716 with the $140,000 state homestead exemption applied.
Projected Ag Tax Rate Impact
Tax Impact on Business Property
Starting January 1, 2026, businesses in Texas can now exempt up to $125,000 of personal property from their taxable value. Up from $2,500.
This exemption applies to tangible personal property used to produce income, including office furniture, supplies, equipment, and inventory.
Business owners must file a rendition (or a certification that the value of personal property is not more than $125,000) to claim the exemption by April 15, 2026.
Check with your Local Appraisal District for specific certification forms.
See how your taxes are projected to be impacted with the tax calculator below.
For properties that do not qualify for the state homestead exemption, uncheck the Homestead Exemption box on the calculator below to view the projected monthly impact.
School Finance 101
Public school taxes involve two figures which divide the school district’s budget into two “buckets.” The first is the Maintenance & Operations (M&O) budget, also known as the General Fund. The M&O fund is used to pay for the day-to-day operations of a district and includes items such as salaries, utilities, food, gas, supplies, etc. A majority of the district's M&O budget is spent on salaries including teacher compensation, benefits, and related costs.​
​
The second is the Interest & Sinking (I&S) budget or Debt Service. This fund is used to repay debt for capital improvements approved by voters through bond elections. As a comparison, this fund is similar to a mortgage or home improvement loan. I&S funds may only be used to repay debt.
Proceeds from a bond issue can be used for the construction and renovation of facilities, the acquisition of land and the purchase of capital items, such as technology and transportation. By law, voter-approved bonds cannot be used to increase salaries or to pay rising costs of utilities or services.
.png)