Refund coming for some BISD taxpayers

Refund coming for some BISD taxpayers

In addition to raising test scores, balancing a budget, giving raises, buying new buses and building a fund balance of over $20 million, those managing the Beaumont Independent School District are also anticipating a tax break to community stakeholders, whose property tax payments are largely forwarded to BISD.

According to Superintendent John Frossard, funds garnered through the I&S (interest and sinking) tax can only be used to pay debt. Since BISD administration consolidated debt and alleviated millions in future costs associated with that debt – including the district’s $388 million bond from 2010 – BISD will no longer need the anticipated funding secured through the community’s property taxes.

Currently, BISD taxes represent the lion’s share of Beaumont property taxes, pulling in $1.315 for every $100 in property valuation for 2016. City taxes are roughly half as much, and the county’s is less than a quarter of that.

Currently, BISD taxes are calculated at $1.04 per $100 property valuation for M&O (maintenance and operation tax, used for pretty much everything other than debt service) and $0.275 for I&S (interest and sinking tax, used for debt services and buses in some cases).

As for how much savings BISD taxpayers will see in the coming year, “We won’t know until the end of July when we receive our certified values,” BISD spokesperson Nakisha Burns reported from information provided by district finance officer Cheryl Hernandez.

Frossard said he believes the community will be happy to see some relief in their wallets, and although the district could use that tax income to float more debt in the form of bonds to complete necessary improvements at campuses district-wide, “I don’t think the community has an appetite right now for another bond.”