65+ and/or Disabled
No Tax Rate Impact for Voters 65+ and/or Disabled
Under state law, the dollar amount of school taxes imposed on the residence homestead of a person 65 years of age or older cannot be increased above the amount paid in the first year after the person turned 65 or became disabled. This freeze applies regardless of changes in tax rate or property value, unless there are new improvements/additions to the homestead.
YOU MUST APPLY FOR THIS EXEMPTION.
How is Lorena ISD’s tax rate configured?
A school district’s tax rate is comprised of two components: the Maintenance & Operations tax (M&O) and the Interest & Sinking tax (I&S). The M&O rate is used to operate the school district, including salaries, utilities, furniture, supplies, food, gas, etc. The I&S rate is used to pay off school construction bonds. Bond sales only affect the I&S rate.
Tax Information
LORENA ISD TAX RATE HISTORY
Lorena ISD’s tax rate has consistently dropped each year since 2014. If the May 2024 bond package passes, Lorena ISD’s tax rate will still remain lower than it was from 2014- 2020.