The Denton 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 districtâ€™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 districtâ€™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.