A unanimous decision to pass a $668.7 million dollar bond for EPISD was made Tuesday evening. A decision that comes with price for tax payers.
In November voters will have the option to vote for or against the bond. If the bond passes that means an increase in property taxes. Some who were in attendance at Tuesday’s meeting believe a bond is needed but the amount requested is too high.
Here’s how it all breaks down for tax payers: If the bond passes in November the tax rate will increase from 1.2 to 1.4 . So if you live in a home valued at $100 thousand dollars, your property taxes will increase to just under $12 dollars a month, $141 dollars a year.
If your home is valued at $300 thousand dollars, monthly property taxes will increase to $43 dollars, over $500 a year.
At this point property taxes have not changed, they will only increase if voters approve it in the upcoming election. District officials say schools are in need of improvements to increase the quality of education and they hope the voters will agree.
EPISD has not passed a bond since 2007. If the bond passes in November it will be largest one the district and El Paso have ever seen.
For more details on some of the proposed projects, click here.