Lufkin ISD financial officer explains how bond could effect taxp - KTRE.com | Lufkin and Nacogdoches, Texas

Lufkin ISD financial officer explains how bond could effect taxpayers

LUFKIN, TX (KTRE) -

Soon voters will have a chance to decide whether to pass the $75-million dollar proposal.

If the Lufkin Middle School bond election passes, the bond will be repaid from the interest and sinking portion of the tax rate. 

“So the local property value determines what our tax rate is, and your tax rate is made up of two different components,” said Chief Financial Officer Charlotte Bynum. “You have an M and O rate which is maintenance and operations and then you also have an I and S rate which is interest and sinking.”

Right now the tax rate for Lufkin ISD is a dollar and twenty-one point three cent per every one hundred dollars of evaluation, but the passage of the bond would mean a slight increase in property taxes. 

“An average home in Lufkin ISD is $125,000 worth of value, so for someone with $125,000 home of price value it would $23.37 per month,” Bynum said. 

Taxes for homeowners 65 and older will not increase because they have a freeze exemption applied. 

The $75-million bond will be split up three different ways.

“Sixty million has been allocated to the Lufkin Middle School which is 80 percent of the total $75 million. Ten million is allocated to the multipurpose center at the high school and 5 million is allocated to the softball and baseball fields,” Bynum said.

The way that's broken down is the middle school receives 80 percent of the bond, the multipurpose facility gets 13 percent, and the baseball and softball field receive7 percent.

Early voting begins on Monday, April 23rd.

Early Voting Locations

Lufkin ISD Administration Building, 101 Cotton Square, Lufkin

Lufkin High School 309 S. Medford Drive, Lufkin

Anderson Elementary, 381 Champions Drive, Lufkin

Lufkin Middle School, 900 E. Denman Ave., Lufkin

Brandon Elementary, 1612 Sayers St., Lufkin

Slack Elementary, 1305 Fuller Springs Drive, Lufkin
 
Early Voting Dates and Times

April 23-24 — 8 a.m. to 8 p.m.

April 25 — 8 a.m. to 5:30 p.m.

April 26 — 8 a.m. to 8 p.m.

April 27-28 — 8 a.m. to 4:30 p.m.

April 29 — 1-5 p.m.

April 30 — 8 a.m. to 8 p.m.

May 1 — 8 a.m. to 4:30 p.m.

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