AUSTIN (KXAN) — Money is about to get tighter for many in Austin. Inflation is expected to stay high, and it comes as Austin voters approved billions of dollars worth of bonds.

We’re digging deeper into the historic bonds.

The City of Austin’s affordable housing bond was the largest of its kind at $350 million.

So was Austin Independent School District’s bond package at $2.44 billion.

Voters also approved Austin Community College’s $770 million bond.

So, what’s the impact of all of that on your tax bill?

According to the Austin Chamber of Commerce, a taxpayer with a home worth $500,000 will see an increase of $5 to $25 per year from ACC’s bond.

The group estimated the average homeowner would see a tax increase of $55 per year from AISD’s bond, and another $46.59 a year from the affordable housing bond.

That would bring the total to an extra $106.59 – $126.59 per year.

Of course, those amounts all change when factoring in your specific home value.

A lot of KXAN viewers have been chiming in on our social media channels, voicing concern for folks who live on fixed incomes and may not be able to afford the tax bill increases.

Many also worry landlords will pass these costs to renters, further increasing rents in Austin and possibly pricing more people out.

We wondered why so many would vote for the bonds amid inflation and rising interest rates.

Angelos Angelou with Angelou Economics said the average homeowner pays around $6,000 in property taxes a year, so the extra $100+ may not seem like a lot to those folks.

“Obviously… it’s high enough for some families but not high enough for everyone, otherwise, the… bond election would have been rejected,” he said.

He also said the money will boost the economy overall, going to construction companies, architects and engineering firms for these projects.

“Usually, a two-and-a-half-billion-dollar construction program will be roughly about a $5 billion economic impact on our economy over the years in which the bonds will be sold,” Angelou said.

Fang Fang, president and CEO of the Greater Austin Chamber of Commerce, also sees a positive impact of the passage of the bonds.

“These bonds are really critical for our workforce to be able to afford to live, work and play in the Austin community,” she said.

She also hopes ACC’s bonds will open up more training opportunities for communities of color.

“The more diverse the pipeline is, the more diverse our economy and our community is,” she said.