EPISD board approves tax rate increase; average homeowner to pay $114 more

The El Paso Independent School District board unanimously approved a new property tax rate Tuesday that will raise the annual tax bill for the average homeowner by about $114, according to KVIA.

Under the new rate, taxes on an average district home will climb to $1,294.18 this year from $1,179 last year, according to EPISD documents. The adopted tax rate is $1.0745 per $100 of taxable property valuation, which falls below the voter-approval rate of $1.0789 per $100 property valuation.

The increase stems partly from a rise in assessed home values. The average taxable value of a home after exemptions was $109,167 last year and $120,455 this year, according to EPISD.

Texas law provides exemptions that reduce the taxable value of residential property. For most homeowners, the first $140,000 of property value is exempt from school taxes. Residents 65 and older, or those with disabilities, receive an additional $60,000 exemption. Veterans with a 100% disability rating are exempt from all property taxes in Texas.

The board's decision came after a public meeting to discuss the proposed rate.