Tax & Financial Information

Responsible Financial Stewardship

Since 2018, Bridgeport ISD has decreased its total tax rate by 32 cents, reflecting a continued commitment to fiscal responsibility.

  • Annual Reductions: The district has reduced its tax rate by an average of 5.16% per year since 2018.

*Home owners with the “Over-65 Homestead Exemption” will not incur a tax increase.

Tax Impact

The proposed bond would include an increase of $0.2372 to the I&S tax rate to fund planned bond projects.

  • This increase may be phased in over 2-3 years depending on:

    • Property values

    • Interest rates

    • Project timelines

    • Bond repayment schedules

Homeowners 65 and older with a homestead exemption will have their property taxes frozen and will not see an increase due to this bond.

Homestead Exemptions – Wise County

For Wise County residents 65 years and older, school district property taxes will not increase, even if property values go up (excluding new improvements). To qualify, homeowners must have an approved Homestead and Over-65 Exemption on file with the Wise County Appraisal District and must own the property as of January 1st of the tax year.

Understanding the Tax Rate

Bridgeport ISD’s budget is divided into two parts: Maintenance and Operations (M&O) and Interest and Sinking (I&S). Each serves a distinct purpose.

  • M&O Fund: Covers the district’s daily operational costs, including teacher and staff salaries, classroom materials, utilities, and transportation.

  • I&S Fund (Bond Funds): Used to pay off debt from voter-approved bonds. This fund is dedicated to major projects such as constructing new schools, renovating existing buildings, and purchasing equipment. It cannot be used for operating expenses like salaries or utility bills.

The M&O fund ensures day-to-day operations, while the I&S fund is allocated for long-term facility improvements. Together, they support both the district’s current needs and future growth.

Bridgeport ISD’s current tax rates are $0.66 for M&O and a proposed $0.50 for I&S, totaling $1.16 per $100 of property value. This includes an increase of $0.2372 to the I&S tax rate to fund planned bond projects.