How would the bond affect your taxes?

In about three months, Wichita Falls residents will be heading to the polls to vote yay or nay on a $131- million dollar bond.

The bond issue is made up of seven propositions with 29 projects including but not limited to improvements to Lake Wichita, the Circle Trail, and Police and Fire Department Facilities.

Depending on which propositions pass in, residents would be paying more in property taxes. According to the city for every 7.2 million dollars issued, the property tax rate would need to increase by 1 cent.

For example, the homeowner of a 100 thousand dollar home, will pay 10 dollars per year in additional taxes.

Each 1 cent increase in the tax rate costs a property owner of a $100,000 home $10 per year in additional taxes.

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