What is a school bond election?
A bond election requires the voter to express support for or against the district selling school bonds. If the bond is approve the district sells the bonds at the time funds are needed and uses the bond proceeds to pay for special projects or expenses. The law restricts how a district can spend bond revenues. Revenues must be spent towards the purposes outlined in the Bond Election. What is the Over 65 Tax Exemption? If you are over 65, your home property taxes will not increase if you have filed for the "Over 65" homestead exemption. This tax freeze is on the homestead only, and may be adjusted up if major renovations are done to the property. If the 2011 bond referendum passes, your school taxes will not increase if you qualify for the homestead exemption. To qualify, Senior citizens must request this status in order for their taxes to be frozen. This request is made through the San Saba County Appraisal District.