What is a Bond? Information Regarding the 2022 Texarkana ISD Bond Proposal
The November 2022 ballot will include two bond proposals for consideration by Texarkana ISD voters. TISD is committed to informing residents about the purpose of bond elections and the specifics of these measures.
A school district’s tax rate is composed of two components, the first of which is the maintenance and operations budget (M&O). It funds recurring expenses such as teacher and staff salaries, supplies, and utilities.
The second component is the interest and sinking budget (I&S), also known as Debt Service. Under Texas law, these funds are designated for longer-term capital improvements approved by voters through bond elections. Such investments are too capital-intensive to be included in annual operating budgets; school districts are not allowed to accumulate cash for these projects under state law. Just as an individual agrees to repay a new home loan, voters authorize the District to sell and repay bonds for major capital improvements. School boards can only levy I&S taxes in the amount necessary to repay the bonds.
In April 2022, following the adoption of a new strategic plan developed by over 300 Texarkana ISD parents, students, educators, and community members, the TISD Board of Trustees formed a Long Range Planning Committee (LRPC). The LRPC included 39 parents, community and business leaders, representatives from civic organizations, and elected officials.
The primary task of the LRPC was to develop a long-term Master Facilities Plan. The LRPC reviewed a wide array of information, including the results of a facility assessment, demographic information, financial reports, and educational research.
Based on the recommendations of the LRPC, the TISD Board placed two propositions on the ballot.
Proposition A is a total of $130 million and includes the following items:
- District-wide security upgrades
- A PreKindergarten replacement school that will keep the Paul Laurence Dunbar name
- A replacement elementary school on the district’s Pine Street site for Highland Park and Spring Lake Park students
- Additions and renovations to Wake Village Elementary School
- New school buses
Proposition B is a total of $59 million. It includes new and renovated space for workforce development/Career and Technical Education at Texas High School.
The average value of a home in Texarkana ISD is $119,550. For this home, the cost of Proposition A is $9.06 per month. The cost of Proposition B is $4.12 per month.
Qualifying disabled veterans and homeowners aged 65 and older with an over-65 Homestead Exemption had their tax dollar amount frozen when their Exemption was granted (unless improvements or additions are made). They will not be impacted by their frozen amount with the passage of the TISD Propositions. In 2019, Texas Legislators passed a new law as part of HB 3 that requires all bond propositions for any school district to have the phrase ‘THIS IS A PROPERTY TAX INCREASE’ on all ballot language for bond propositions. Due to this requirement, all voters will see this statement on the official ballot language, even when there is no tax rate increase over the frozen amount on these Exemptions. For more information about the Exemptions, call the Bowie Central Appraisal District at 903.793.8936 or visit the appraisal district’s website at https://bowieappraisal.com/.
Voters can vote at any Bowie County early voting location, including five convenient early voting locations within TISD. Early voting begins Monday, October 24, and ends Friday, November 4. Weekend voting is available on Saturday, October 29, and Sunday, October 30. Election Day is November 8, 2022.
For more information about TISD Bond 2022, please visit https://txkisd2022bond.com/projects.
