CISD considers bump in tax rate for possible $511 million bond - Chron.com
As Conroe Independent School District moves closer to calling for a November bond election, the tax implications for property owners are slowly unfolding. The district presented seven different tax models to the board of trustees during a July 7 workshop to determine how much property owners would be on the hook for over the next several years to fund a possible $511 million bond. "We had meetings with folks from every aspect of the community that know the district well, and they've collaborated and put together what I think to be a very sold bond proposal," said CISD trustee and second vice president Datren Williams. The tax models took into account a potential increase in the district's interest and sinking - I&S - tax rate, which is levied to pay for bond debt, and the projected growth of property valuations. Some models didn't include any increase in district taxation and instead leaned on potential increases in property values. Growth in property values means a built in funding source for the school district through increased property taxes, which offset the need for tax levies to pay for bond debt. "You all know we live in a community that is the right blend of tax base to cover our growth. But even at the district's most conservative estimates of property valuation growth, Conroe ISD doesn't anticipate more than a 1 cent increase for its tax base. Source: www.chron.com
