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What is a school bond?
A school bond is similar to a home mortgage. It is a contract to repay borrowed money with a low-cost interest rate over time. Bonds are sold by a school district to competing lenders to raise funds to pay for the costs of construction, renovations and equipment. Most school districts in Texas utilize bonds to finance renovations and new facilities.
How is the District’s tax rate configured?
A school district’s tax rate is comprised of two tax rates: the Maintenance & Operations tax (M&O) and the Interest & Sinking tax (I&S). The M&O rate is used to operate the school district, including salaries, utilities, furniture, supplies, food, gas, etc. The I&S rate is used to pay off school construction bonds. Bond sales only affect the I&S rate.
What are the historical tax rates of WISD?
Historical Tax Rates |
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What is the District’s I&S tax rate, and how does it compare to other districts?
Currently, WISD’s Interest & Sinking (I&S) tax rate, is $0.32. When combined with the district’s Maintenance & Operations (M&O) tax rate of $1.04, the total tax rate for Waxahachie ISD is $1.36.
The chart below compares the 2009 tax rates of other area school districts.
District |
2009 M&O
Tax Rate |
2009 I&S Tax Rate |
2009 Total Tax Rate |
Red Oak ISD |
$1.17 |
$0.370 |
$1.540 |
Ennis ISD |
$1.04 |
$0.470 |
$1.510 |
Forney ISD |
$1.04 |
$0.460 |
$1.500 |
Mesquite ISD |
$1.04 |
$0.380 |
$1.420 |
Lancaster ISD |
$1.04 |
$0.378 |
$1.413 |
Midlothian ISD |
$1.04 |
$0.358 |
$1.398 |
Waxahachie ISD |
$1.04 |
$0.320 |
$1.360 |
Terrell ISD |
$1.04 |
$0.270 |
$1.310 |
Corsicana ISD |
$1.04 |
$0.243 |
$1.283 |
How will the proposed bond election affect my taxes?
If approved by voters, Proposition One, which is based on a 30-year amortization, is estimated to increase taxes by 4.4 cents per $100 of assessed value. Proposition Two, based on a 15-year amortization, is estimated to increase taxes by 2.5 cents per $100 of assessed value. Should both propositions pass, the total tax increase is estimated to be 6.9 cents per $100 of assessed value.
If both propositions are approved, the average homeowner in WISD will pay an estimated $7.12 more per month in taxes. Please visit the Tax Impact page for more information.
When was the last bond in WISD?
The last bond election was held on November 7, 2006 for $59,250,000. This bond funded the construction of the new Felty Elementary School, the new Clift Middle School, the new Howard Eighth Grade Center, renovations to Waxahachie Global High School, renovations to Turner Middle School, Waxahachie High School capital improvements and parking lot expansions at Marvin ES and campus improvements at Dunaway. These bond projects were completed on time and under the budget promised to taxpayers.
Will there be a future bond? If so, when and for what projects?
The District anticipates calling a future bond election in 2013 for the large-scale renovation and expansion projects laid out in the Master Plan for Waxahachie High School and the Ninth Grade Academy. Also, the District plans to work with a demographer to study the growth in student population as it plans for a future bond.
What are the seating capacities at other local stadiums?
Stadium |
Capacity |
Mesquite Memorial |
20,000 |
Carrollton Standridge |
13,000 |
Dallas Kincaide |
12,000 |
Mesquite Hanby |
12,000 |
Mansfield |
11,134 |
Forney |
10,500 |
Corsicana |
10,001 |
DeSoto |
10,000 |
Duncanville |
10,000 |
Ennis |
10,000 |
Midlothian |
8,000 |
Waxahachie |
7,508 |
Terrell |
7,000 |
Royce City |
6,500 |
Red Oak |
6,000 |
