On May 7, Bonham Independent School District voters approved a bond proposal valued at about $30 million to construct a new high school campus. The vote passed 977-456 – a roughly two-to-one margin. As a result, property taxes will go up for homeowners aged 64 years and younger. For example, people owning a home valued at $90,000 would pay a little more than $150 in taxes annually. Homeowners 65 and older would be exempt under the state homestead exemption.