VIDOR — Patrons of three more area school districts will see slight increases in property taxes following approval of new tax rates.
The Little Cypress-Mauriceville Consolidated Independent School District, Orangefield Independent School District and Vidor Independent School District each approved new tax rates at their respective Board of Trustee meetings this past Monday.
The Little Cypress-Mauriceville Consolidated Independent School District also increased its tax rate this year.
The proposed tax rate of $1.15835 per $100 valuation. The maintenance and operation rate of $1.04 remained the same from 2011, but the interest and sinking rate increased to $0.11835 from $0.11567 in 2011.
The amount of taxes imposed on a house valued at $100,000 would be $1,158.35 for the year, based on the proposed tax rate. If the same house was valued at $100,000 in 2011, this would be a small increase compared to the $1,155.67 paid in taxes the previous year. However, most properties tend to increase in value rather than decrease.
The average taxable value of a residence in the LC-M Consolidated Independent School District in 2012 is $78,366, a slight increase from the average value of $77,661 in 2011. This means the amount of taxes imposed this year would also increase slightly, based on this change, from $897.50 to $907.75. This is an increase of $10.25 based on the average taxable value.
“The Interest and Sinking (I&S) fund is used to pay the bonds,” said Greg Perry of LC-M CISD. “The I&S rate seems to fluctuate every year because the way rates change. This year we just needed a little more money to pay the bonds.”
The Orangefield Independent School District proposed a tax rate of $1.17325 per $100 valuation, which is an increase of $0.00325 over the 2011-2012 tax rate. The maintenance and operation rate remained the same at $1.04, but the interest and sinking rate increased from $0.13 to $0.13325.
The amount of taxes owed on a house valued at $100,000 would be $1,173.25, based on the proposed tax rate. This is an increase of $3.25, if the value of the house did not increase from the previous year.
The average taxable value of a residence within the Orangefield school district boundaries in 2012 is $73,470, an increase from the average value of $71,130 in 2011. This means the amount of taxes imposed this year would increase from $832.22 to $861.99, an increase of $29.77 based on the average taxable value.
The Vidor ISD proposed tax rate of $1.22236 per $100 valuation is slightly less than the 2011-2012 tax rate of $1.23202. The maintenance and operations tax rate of $1.125 remained unchanged from the previous year, while the interest and sinking fund actually decreased from $0.10702 to $0.09736
The amount of taxes imposed on a house valued at $100,000 would be $1,222.36 for the year, based on the proposed tax rate. If the same house was valued at $100,000 in 2011, this would be a slight decrease compared to the $1,232.02 paid in taxes the previous year. However, most properties tend to increase in value rather than decrease.
The average taxable value of a residence in the boundaries of Vidor ISD in 2012 is $50,829 a slight increase from the average value of $50,052 in 2011. This means the amount of taxes imposed this year would also increase slightly from $616.65 to $621.31, an increase of $4.66 based on the average taxable value.
This does not apply residents ages 65 or older or disabled residents who qualify for residence homestead exemption.
