Last Day to File Taxes
The last day to file taxes is Monday, April 15, 2024
Where do my taxes go?
Texas does not have a state property tax. Instead, local governments set tax rates and collect property taxes. The school district property tax includes two pieces: a maintenance and operations (M&O) tax and an interest and sinking (I&S) tax. M&O money funds daily operations costs and the I&S tax is used to pay debt service on any bonds used for construction.
Although the amount of money collected by the state from property taxes is dependent on housing values, school districts receive a base number, the student allotment, for each student. The amount the local taxpayers contribute to the state does not change how much a district receives for each student.
Spanish: https://youtu.be/bxcRfQTi2Kc
Fiscal Responsibility
Inflation has risen 19% from 2019 to 2023. The Texas Comptroller projects that the state’s Rainy-Day Fund will surpass $27 BILLION by 2025. Despite this surplus, school districts have not seen a change in the student allotment since before COVID in 2019.
