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POTENTIAL TAX IMPACT

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Age 65+

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Buffalo ISD residents 65 and older with an over-65 exemption will have their tax bill frozen, unaffected by future appraisal or tax rate increases. However, significant improvements to your homestead may impact your bill. For information on how to apply, visit the Leon County CAD website at www.leoncad.org, or contact Freestone County CAD by calling (903) 389-5510.

MONTHLY INCREASE WITH
AG EXEMPTION

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General Operating Fund
(Maintenance & Operations)
Day-to-Day Operations and Expenses

For school districts, this includes: 

  • Staff salaries

  • Utilities

  • Supplies

  • Repairs

  • Fuel

For the average citizen, this is similar to:

  • Groceries

  • Utilities

  • Minor Home Repairs

  • Routine Services

  • Car Fuel

For school districts, this includes:

  • Staff salaries

  • Utilities

  • Supplies

  • Repairs

  • Fuel

​

For the average citizen, this is similar to:

  • Groceries

  • Utilities

  • Minor Home Repairs

  • Routine Services

  • Car Fuel

The estimated tax impact tables contained in this flyer are based upon information obtained from each county appraisal district, including, but not limited to assumptions related to projected property values and interest rates.

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Debt Services Fund
(Interest & Sinking)
Principal and Interest Payments on Debts Issued

For school districts, this includes: 

  • New Construction

  • Renovations

  • HVAC Systems

  • Roofing

  • Technology

For the average citizen, this is similar to:

  • Mortgage

  • Home Renovation

  • Major Appliances

  • Land

  • Car

For school districts, this includes:

  • New Construction

  • Renovations

  • HVAC Systems

  • Roofing

  • Technology

​

For the average citizen, this is similar to:

  • Mortgage

  • Home Renovation

  • Major Appliances

  • Land

  • Car

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UNDERSTANDING THE TAX RATE

Public school taxes involve two figures which divide the school district’s budget into two “buckets.” The first is the Maintenance & Operations (M&O) budget, also known as the General Fund. The M&O fund is used to pay for the day-to-day operations of a district and includes items such as salaries, utilities, food, gas, supplies, etc. A majority of Buffalo’s M&O budget is spent on salaries including teacher compensation, benefits, and related costs.

 

The second is the Interest & Sinking (I&S) budget or Debt Service. This fund is used to repay debt for capital improvements approved by voters through bond elections. As a comparison, this fund is similar to a mortgage or home improvement loan. I&S funds may only be used to repay debt.

 

Proceeds from a bond issue can be used for the construction and renovation of facilities, the acquisition of land and the purchase of capital items, such as technology and transportation. By law, voter-approved bonds cannot be used to increase salaries or to pay rising costs of utilities or services.

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