A bond is similar to a home mortgage. It’s a contract to repay borrowed money with interest over time. Bonds are sold by a school district to competing lenders to raise funds to pay for the costs of construction, renovations and equipment. Principal and interest on the bonds are repaid over an extended period of time with funds from the Debt Service (Interest & Sinking or I&S) tax rate.

If all three propositions are approved by voters, the Garland ISD property tax rate will increase by approximately $0.0661 over the current tax rate.

Residents of the district who are 65 years or older, or who are 100% disabled veterans, will not be affected by this tax rate increase, as their tax rates can be capped once they apply and are granted an exemption by the appropriate county appraisal district.

Continue reading to learn more about school taxes and the impact of the bond.

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    How much would the I&S tax rate increase?


    Total Amount Increase Above Current I&S Tax Rate of $0.3179
    Prop A $1,103,130,000 $0.0570
    Prop B $135,910,000 $0.0070
    Prop C $40,605,000 $0.0021
    Total $1,279,645,000 $0.0661

     $0.3179 (current rate) + $0.0661 (increase) = $0.3840 Estimated Max I&S Tax Rate (Including Net Existing Debt)


    How would the bond impact my taxes?

    Estimated tax impact based on taxable home value of $260,000*
    Proposition Prop Amount Increase Above Current I&S Tax Rate of $0.3179 Annual Tax Increase Monthly Tax Increase
    Prop A $1,103,130,000 $0.0570 $148.20 $12.35
    Prop B $135,910,000 $0.0070 $18.20 $1.52
    Prop C $40,605,000 $0.0021 $5.46 $0.46
    Total $1,279,645,000 $0.0661 $171.86 $14.32

    *The average market value of homes in GISD is $300,000. All Texas homeowners are eligible to receive a $40,000 state homestead exemption on school taxes.
    Example: $300,000 home less $40,000 mandatory homestead exemption equals $260,000 in taxable value after exemption.


    Taxable home value after $40,000 mandatory homestead exemption

    Tax Impact Estimator


    Exemptions for Over 65 and 100% Disabled Veterans

    If you are a homeowner who has applied for and been granted an Over 65 or 100% Disabled Veteran Homestead Exemption with the appropriate county, the school tax portion of your property tax won’t increase (unless you have made major improvements to your property.) This is true regardless of the election results or the adopted school tax rate.

    See the Residence Homestead Exemption form for Dallas County. Note you will start by searching for your property.

    Understanding the Tax Rate

    In Texas, school district budgets are funded by two different tax rates and each rate can only be used for certain types of expenses.

    • Maintenance & Operations (M&O) funds are used for day-to-day operations to pay for salaries, supplies, utilities, insurance, fuel, etc.
    • Interest & Sinking (I&S) funds can only be used to pay back debt incurred for items such as construction, renovations, buses, land, technology, and the cost of issuing bonds.
    Image comparing I&S and M&O tax buckets

    How does GISD’s tax rate compare to other districts?

    The district's already low tax rate would remain lower than many neighboring districts if the bond were to pass.

    Local School District Tax Rates

    Entity M&O Rate I&S Rate Total Rate County
    Wylie ISD $0.9429 $0.4550 $1.3979 Collin
    Mansfield ISD $0.9746 $0.3600 $1.3346 Tarrant
    Allen ISD $0.9404 $0.3900 $1.3304 Collin
    Richardson ISD $0.9646 $0.3500 $1.3146 Dallas
    McKinney ISD $0.9429 $0.3700 $1.3129 Collin
    Arlington ISD $1.008 $0.3007 $1.3087 Tarrant
    Grand Prairie ISD $0.9429 $0.3641 $1.307 Dallas
    Mesquite ISD $0.8846 $0.4000 $1.2846 Dallas
    Fort Worth ISD $0.9896 $0.2920 $1.2816 Tarrant
    Plano ISD $1.0224 $0.2374 $1.2598 Collin
    Garland ISD
    Expected maximum tax rate
    with passage of bond election
    $0.8546 $0.3840 $1.2386 Dallas
    Lewisville ISD $0.8559 $0.3809 $1.2368 Denton
    Rockwall ISD $0.8546 $0.3600 $1.2146 Rockwall
    Frisco ISD $0.9429 $0.2700 $1.2129 Collin
    Dallas ISD $0.9429 $0.2420 $1.1849 Dallas
    Garland ISD (current) $0.8546 $0.3179 $1.1725 Dallas
    Irving ISD $0.9056 $0.2418 $1.1474 Dallas
    Carrollton-Farmers Branch ISD $0.9429 $0.2000 $1.1429 Dallas
    Highland Park ISD $0.9078 $0.1700 $1.0778 Dallas

    Source: comptroller.texas.gov/taxes/property-tax/rates
    Download the PDF version

    Dallas County School District Tax Rates

    Entity M&O Rate I&S Rate Total Rate County
    Lancaster ISD $0.9406 $0.4375 $1.3781 Dallas
    Sunnyvale ISD $0.9605 $0.4141 $1.3746 Dallas
    Richardson ISD $0.9646 $0.3500 $1.3146 Dallas
    Cedar Hill ISD $0.9746 $0.3360 $1.3106 Dallas
    Grand Prairie ISD $0.9429 $0.3641 $1.3070 Dallas
    Mesquite ISD $0.8846 $0.4000 $1.2846 Dallas
    DeSoto ISD $0.9429 $0.3153 $1.2582 Dallas
    Duncanville ISD $0.9329 $0.3200 $1.2529 Dallas
    Ferris ISD $0.9385 $0.3000 $1.2385 Dallas
    Coppell ISD $0.9867 $0.2306 $1.2173 Dallas
    Dallas ISD $0.9429 $0.2420 $1.1849 Dallas
    Garland ISD (current) $0.8546 $0.3179 $1.1725 Dallas
    Irving ISD $0.9056 $0.2418 $1.1474 Dallas
    Carrollton-Farmers Branch ISD $0.9429 $0.2000 $1.1429 Dallas
    Grapevine - Colleyville ISD $0.9091 $0.2217 $1.1308 Dallas
    Highland Park ISD $0.9078 $0.1700 $1.0778 Dallas

    Source: dallascounty.org
    Download the PDF version

    Seven County Tax Rate Comparison

    GISD has the 64th lowest tax rate out of the 74 districts in Dallas, Denton, Collin, Tarrant, Ellis, Rockwall and Kaufman counties.

    Download the chart to see the full list of tax rates within the seven counties.

    GISD Tax Rate History

    Hover over the chart to see specific rate details.

    Financial transparency

    Garland ISD’s commitment to transparency and fiscal responsibility has earned the district the highest rating possible by the state’s Financial Integrity Rating System, as well as earning Transparency Stars from the Texas Comptroller and the Award of Merit and the Award of Excellence by the Texas Association of School Business. The district also holds top ratings for creditworthiness: Aaa from Moody’s,  AA from Standard & Poor's and AA+ Bond Rating from Fitch. These are all indicators of the district’s strong capacity to meet financial commitments.

    We pledge to continue this tradition of responsible management of tax dollars.  Should voters approve this year’s bond referendum it will be reported on monthly in the Finance, Facilities and Operations Board Committee Meeting.

    See the Financial Information page to learn more about district finances.

    Need more information?

    You can submit your questions using this form:
    Or send your questions to this email address:
    GISD Bond 2023 Garland Rowlett Sachse