2023-2024 Property Taxes

The total tax levy for the North East Independent School District is comprised of two different rates:

1. The Maintenance & Operations (M&O) tax which is used to fund the daily operations of the District
2. The Interest & Sinking (I&S), or Debt Service, tax which is used to fund the principal and interest payments on the District’s outstanding voter-approved bonds

The tax rates set for a school district represent the taxes levied per $100 of taxable property value, as determined by the Bexar County Appraisal District. Assessment and collection of the property tax is administered by the Bexar County Tax Assessor-Collector. Taxable property value is the assessed value of the property less all qualifying exemptions. In addition, the taxes of a homestead of a person 65 years of age or older (or the surviving spouse 55 years or older) may not be increased above the amount paid in the first year the person turned 65, regardless of changes in tax rate or taxable value.

For 2023-2024, approximately 82% of NEISD’s General Fund’s budgeted revenue comes from the levy of M&O taxes, and nearly all (95%) of the Debt Service Fund’s revenue is from I&S taxes.

2023-2024 Tax Rates:
M&O:   $0.7105
+ I&S:   $0.3000
Total:   $1.0105

The average home in NEISD has a market value of $359,000 and a taxable value (after homestead and other exemptions) of $242,300. An example of the total school district taxes are calculated as follows:

Example: Taxable Value ÷ 100 x Tax Rate = Taxes Levied
M&O Tax: $242,300 ÷ 100 x $0.7105 = $1,722
I&S Tax: $242,300 ÷ 100 x $0.3000 = $726
Total Tax: $242,300 ÷ 100 x $1.0105 = $2,448