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Public school taxes involve two figures which divide the school district’s budget into two “buckets.” The first is the Maintenance & Operations (M&O) budget, also known as the General Fund. The M&O fund is used to pay for the day-to-day operations of a district and includes items such as salaries, utilities, food, gas, supplies, etc. Approximately 80 percent of Harmony ISD’s M&O budget is spent on personnel salaries, benefits, and related costs.

The second is the Interest & Sinking (I&S) budget or Debt Service. This fund is used to repay debt for capital improvements approved by voters through bond elections. As a comparison, this fund is similar to a mortgage or home improvement loan. I&S funds may only be used to repay voter approved bond debt.

Proceeds from a bond issue can be used for the construction and renovation of facilities, the acquisition of land and the purchase of capital items, such as equipment, technology and transportation. By law, voter-approved bonds cannot be used to increase salaries or to pay rising costs of utilities or services.


AGE 65+

For those with an Age 65 Homestead Exemption Affidavit, the amount of taxes paid to the District is frozen and the 2024 Bond will not result in an increase in the amount of property tax paid on their homestead. For questions on how to apply, please contact Upshur CAD at (903) 843-3041 and Wood CAD at (903)763-4946. Please be aware, you must apply for the exemption. Homestead Exemption Form


(Maintenance & Operations)
Day-to-day operations and expenses

  • For school districts this includes:

  • Staff salaries

  • Utilities

  • Supplies

  • Repairs

  • Fuel

  • For the average citizen this is similar to:

  • Groceries

  • Utilities

  • Minor Home Repairs

  • Routine Services

  • Car Fuel


(Interest & Sinking)
Principal and interest payments on debt issued

  • For school districts this includes:

  • New Construction

  • Renovations

  • HVAC Systems

  • Roofing

  • Technology

  • For the average citizen this is similar to:

  • Mortgage

  • Home Renovation

  • Major Appliances

  • Land

  • Car

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