In compliance with new state law, bond ballot propositions must include the following statement: This is a property tax increase. Voters will see this language on all bond propositions; however, Humble ISD plans to keep the I&S tax rate at 35 cents, the same as it has been since 2008.
Five tax exemptions are available
$25,000 homestead exemption; additionally, a $15,000 age 65 and older exemption; $10,000 Disabled Homestead exemption, a $5,000 to $12,000 Disabled Veteran or Survivor exemption; and a 100% homestead exemption for certain qualifying disabled veterans. A tax deferral is available for homeowners with an Over 65 or Disabled exemption.
Additionally, the May 7 ballot includes a statewide ballot proposition to allow for those with elderly or disabled homestead exemptions to have their tax ceiling reduced if the school tax rate is lowered, and to increase the homestead exemption from $25,000 to $40,000 for everyone who claims the homestead exemption. Humble ISD’s plan to maintain or lower the current tax rate takes into account the possibility of the homestead exemption going to $40,000. Humble ISD voters can vote on the statewide ballot propositions when they vote on Bond 2022 Propositions A and B.
Humble ISD’s bond rating is among the strongest in the State of Texas for public school districts
School districts are evaluated by ratings agencies to determine creditworthiness. Humble ISD received an AA rating from Standard & Poor’s (S&P) and an Aa1 rating from Moody’s Investors Service in 2021. This is equal to or higher than 98% of Texas public school districts.
“The Aa1 rating reflects the district’s growing economy in the Houston metropolitan area, with favorable resident income indices and a growing enrollment base even during the ongoing pandemic. The district’s stable finances have resulted in the buildup of healthy liquidity and reserves,” Moody’s news release stated. “The stable outlook reflects our expectation that the district will continue to exhibit sound financial management and maintain healthy general reserves.”
Early Voting: Monday, April 25 - Tuesday, May 3
Election Day: Saturday, May 7