An eagle-eyed reader pointed out a discrepancy in the El Paso Times Article “EPISD sends $668.7 million bond to ballot“. In the article they state the following about the increase in Property Taxes if the EPISD bond passes:
“If voters pass the EPISD measure on Nov. 8, the property tax rate would rise by 18.8 cents to $1.42 per $100 property valuation. Taxpayers with a $138,000 home, the average in the district, would pay an additional $213 annually.”
See the problem?
$138,000/$100 = 1380 (this is to calculate per $100 valuation)
1380 x $1.42 = $1,959.60 (this is how much the property taxes would go up by, not $213)
Even if you adjust it to be 18.8 cents to $1.42 per $1000, the math STILL doesn’t make sense! In that case, the $138,000 home would be paying an extra $195.96 per year.
We suspect that there is a typo and that it should be per $1000 property valuation. However, we have NO IDEA how they got to their final number of $213 annually. If these numbers came from the EPISD, quake in fear as they try to manage over 1/2 billion in bond money.