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Eustace ISD adopted a total tax rate of $1.26804 for the 2007-2008 school year. $1.04 is for M & O (the actual day-to-day operations of the schools) and $.22804 is for I & S (to pay for voter approved bonds). Compared to last year’s tax rate of $1.5175, the 2007-2008 tax rate is $.24946 lower. 

Eustace ISD continues to offer the optional homestead exemption of 20% in addition to the regular homestead exemption of $15,000.  The example below shows the taxes owed on a $100,000 house:

$100,000 x 20% (.2) = $20,000         
Optional 20% Homestead Exemption

$100,000 - $20,000 = $80,000

$80,000 - $15,000 = $65,000            
Regular Homestead Exemption

$65,000 ÷ 100 x $1.26804 = $824.23 

So, on a $100,000 home, a homeowner in our district would pay $824.23 in taxes.