Originally posted by Forever_frost
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It would be nice if after x years you could have been considered to have "paid your dues". However, the problem I can see that creating would be that basic education could easily get as out of control cost wise as higher education. Last info I can find is for the 08-09 year and suggests it cost between 10k-11k per student that year. Without even accounting for inflation a basic k-12 would be at nearly $120k per student before college if you had to pay up front like college. That would be unsustainable for most of us. As far as being out of school for 40 years, again with out adjusting for inflation, in my case it would take about 42 years for school taxes to equal my "debt". More if my tax rate is reduced by homestead, over 65, etc exemptions.
120k*.024 = 2880 hypothetical yearly school tax, though i think with homestead exemption its a bit lower.
120,000 / 2880 = 42.8 years to repay.
Most folks don't buy a house until mid 20 something, lets say 25.
25 + 42 = 67, I will be 67 before I have my debt paid off, again without inflation or counting years I may have to rent an apt for some reason.
At 65 Collin county does have another exemption you can apply towards school taxes, though I have no idea what effect it has on your rate. I would think the whole reason they have this exemption is that like you suggest, at some point you have paid your debt. Though I doubt the 65 exemption absolves you from all school taxes.
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