Belton Taxpayers Save $1.27 Million Through ISD Bond Refunds - - KCEN HD - Waco, Temple, and Killeen

Belton Taxpayers Save $1.27 Million Through ISD Bond Refunds

Posted: Updated:

The Belton school district is reworking the numbers and saving local taxpayers money.

Belton ISD is refunding some of the bond money approved back in 2006.

What that means is they're essentially buying back some of the bonds and reselling them at a lower interest rate.

The district is refunding $9.65 million in bonds. That'll save taxpayers $1.27 million over the life of the bonds.

Next year, that'll mean $107,000 in taxes the district won't need to collect.

That translates to a half-cent lower property tax rate per $100 of value.

This brings the total tax savings since refunds started in the district in 2010 to $470,000, and a cumulative tax rate 2.3 cents lower.

Click for Local Doppler Radar
Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and KCEN, Owned and Operated by London Broadcasting Company. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.