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Costly Proposed New Bond Would Push Denton ISD Toward State Cap

The Dentodentn ISD school board has announced it will ask voters to approve a $282 million new bond initiative in November. Interestingly, $2 million of the proposal has nothing to do with students – it is to build a child care center for district employees. If this bond measure is approved, the tax bill of a $150,000 home would rise an estimated $48 to $75 a year, according to the district.

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The Dentodentn ISD school board has announced it will ask voters to approve a $282 million new bond initiative in November. Interestingly, $2 million of the proposal has nothing to do with students – it is to build a child care center for district employees. If this bond measure is approved, the tax bill of a $150,000 home would rise an estimated $48 to $75 a year, according to the district.

To help pay off the bonds, the district’s debt service tax rate is predicted to rise from 39.4 cents per $100 valuation to between 43 and 45 cents, depending on how much the district’s property values grow over the next several years. The state cap on the bond indebtedness rate is 50 cents.

In 2004, only eight districts had a rate above 40 cents and the average rate was 11.5 cents. Some 300 districts had no bond indebtedness. Clearly, Denton ISD is on the very high end of this spectrum.

 

mlevin

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