Estimated Bond Impact
Estimated Bond 2026 Impact
If both propositions are approved, the estimated impact for an average home valued at $256,576 in Tuloso Midway ISD would be $10.93 per month.
- Prop A = $10.60 per month
- Prop B = $0.33 per month
The estimated financial impact of Bond 2026 includes the $140,000 homestead exemption approved by state voters in November. Homeowners age 65 and older will now receive a $200,000 homestead exemption if they have filed for and received the Over-65 Exemption through their local tax assessor’s office.
Exemption Information
Over 65 Tax Freeze
There will not be an increase in taxes for senior citizens or disabled persons as a result of this proposed bond. School property taxes are frozen for senior citizens and disabled persons, and they will remain unaffected by the passage of the bond election, provided they have applied for and received the Over-65 Homestead Exemption with the appropriate appraisal district and have made no major improvements or additions to their residence.
Recent legislation passed in November raised the Over-65 Homestead exemption to $200,000. As a result, current homeowners aged 65 and older who own a home with an assessed value of $200,000 or less will now see their school district taxes drop to zero if they have filed for and received the exemption.
To have your school taxes frozen, you must file a homestead application with the appropriate appraisal district and be granted the Over-65 exemption. To check your exemption status and current school district tax amount, visit the Nueces County Appraisal District property search website or call their office at 361-881-9978.
Veterans Homestead Exemption
Veterans who have a 100% disability rating or surviving spouses of a member of the U.S. armed services killed in the line of duty would not see an increase in taxes.
Tax Code Section 11.131 entitles a disabled veteran awarded 100 percent disability compensation due to a service-connected disability and a rating of 100 percent disabled or of individual unemployability to a total property tax exemption on the disabled veteran's residence homestead.
Tax Code Section 11.133 entitles a surviving spouse of a member of the U.S. armed services killed or fatally injured in the line of duty to a total property tax exemption on his or her residence homestead if the surviving spouse has not remarried since the death of the armed services member.
Don't know if your taxes are frozen?
ℹ️ Learn about exemptions 👉 Texas Comptroller website
ℹ️ Contact Nueces County Appraisal District about whether you qualify for exemptions 👉 Nueces County Appraisal District website
Ballot Language for School District Propositions
Since 2019, Texas state law requires all bond propositions for any school district to have the phrase “THIS IS A PROPERTY TAX INCREASE’ on all ballot language for bond propositions.
Homeowners age 65 and older who have filed for and received the Over 65 exemption will not see an increase over their frozen dollar amount, if there are no major improvements or additions. Check your most recent Notice of Assessed Value Change to see if you will be impacted.
Did You Know?
Delaying Implementation Increases Construction Costs
Delaying implementation of the bond program may expose Tuloso-Midway ISD to escalating construction costs, which are estimated to increase the total cost of the proposed bond projects by an additional 6-10%, or up to $14 million, each year.
84% Offset by Industry
Tuloso-Midway ISD’s community growth has made the overall tax base larger while commercial and residential real estate values have increased. In addition, Tuloso-Midway ISD has paid off existing debt early, allowing for the capacity to take on debt with no tax rate increase.
Recapture District
As local revenue increases, the state decreases the funding it provides to the school district. When the state determines there is more local revenue than needed, it will ask the district to pay recapture, which sends local tax dollars back to the state to be redistributed to other districts.
Due to property valuations, TMISD is labeled as a recapture district and annually directs hundreds of thousands of dollars back to the state.
While the district's M&O funds are subject to recapture, I&S funds generated by bond elections are not subject to recapture. This means 100% of the funds stay in district.
Last year, TMISD sent $887,370 back to the TEA due to recapture. Since 2016, TMISD has sent $10,603,524 in recapture.
State Funding
School districts do not receive state funding for building schools or making major renovations and instead must use voter-approved bonds, which pay for large projects that get paid back over time like a mortgage.
Bonds are funded through a dedicated funding source, which is different from the maintenance & operations fund used for teacher salaries and student programs.