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 VALUE | MONTHLY INCREASE | ANNUAL INCREASE |
| $200,000.00 | $10.94 | $131.34 |
| $300,000.00 | $18.24 | $218.90 |
| $400,000.00 | $25.53 | $306.45 |