Although approval of NBISD ’24 Bond will not increase New Braunfels ISD’S tax rate, state law requires that the statement “THIS IS A PROPERTY TAX INCREASE” must appear as part of all public school district bond propositions pursuant to Section 45.003 (Texas Education Code) regardless of whether passage of the proposition would result in a tax rate increase, a tax rate decrease, or not impact the tax rate at all. Passage of NBISD ’24 Bond would not increase New Braunfels ISD’s I&S tax rate.

 

The issuance of new bonds represents a new obligation for voters to consider – essentially providing permission for New Braunfels ISD to continue to levy the interest and sinking (I&S) tax rate in order to repay the new bonds. School districts repay bonds through revenue generated from the I&S portion of the property tax rate. New Braunfels ISD’s current I&S tax rate is $0.3408 per $100 of property value.