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Prop A Estimated Impact
Estimated Impact
If Prop A is approved, there would be no tax rate increase for homeowners in North Lamar ISD. Prop A could provide approximately $2.3 million of new funding in the current fiscal year, and at least as much each year thereafter and $719,000 (or 3.2%) of that would come from the state.
- Current Total Tax Rate of $0.9169
- M&O Rate of $0.6669
- I&S Rate of $0.25
- Addition of $0.10 to the M&O from VATRE
- Decrease of $0.10 to the I&S
- Total Tax Rate from VATRE: $0.9169
- M&O Rate of $0.7669
- I&S Rate of $0.15
Homestead Exemption
Impact includes the most recent compression and assumes the additional $40,000 homestead exemption is approved by voters in November. The combination of compression and an additional $40,000 on top of the existing $100,000 homestead exemption will cut school property taxes for a homesteaded property. This would take effect in January 2026.
Over 65 Tax Freeze
In 2025, the Texas Legislature passed significant property tax relief measures aimed at homeowners aged 65 and older. This means eligible individuals can now receive a total school tax exemption of up to $200,000 - combining the $140,000 general exemption and the $60,000 over 65/disabled exemption - if it is approved by voters in November. The existing school district tax freeze for seniors remains, ensuring that school district taxes on your home won't increase after you qualify, unless you make major home improvements.