Financial Information

100% of the Money Raised from the Bond Stays in Galveston ISD

  • Currently Galveston ISD sends over $30,000,000 back to the state every year through the State’s recapture formula known as Robin Hood
  • That money comes from the Maintenance and Operations portion of the budget
  • Bond funds are NOT subject to recapture, therefore, 100% of bond dollars stay in Galveston ISD

Financial Transparency

  • GISD has received a Superior rating through the State’s Financial Integrity Rating System of Texas for 10 years in a row
  • With the passage of all 5 propositions, citizens will see an approximate 10.9¢ tax rate increase
  • Citizens 65 and over who have applied for and received their over 65 exemption will see no increase in their taxes as a result of this bond
  • Even with the passage of this bond, Galveston ISD will maintain the lowest tax rate in Galveston County

PROJECTED GISD BOND 2022 TAX RATE IMPACT

APPRAISED HOME VALUEMONTHLY INCREASEANNUAL INCREASE
$200,000.00$10.94$131.34
$300,000.00$18.24$218.90
$400,000.00$25.53$306.45