Harris County’s second largest school district is calling for a billion-dollar bond referendum on the upcoming May 4 election date, almost five years to the date of their last billion-dollar bond.
Cypress-Fairbanks Independent School District’s board of trustees unanimously approved the call for a bond that will raise taxes. The district’s Chief Financial Officer Stuart Snow said that they could have done a $1.35 billion proposal and wouldn’t have had a tax increase, but they chose $1.7 billion.
They anticipate the bond increasing taxes by a maximum of 3 cents, or $40.50 a year per $200,000 household. Of course, these amounts don’t include interest or account for the appraisal increases those living in the district will likely see during the lifetime of the bond.
Cy-Fair’s voters approved a massive bond just a handful of years ago. In May 2014, they overwhelmingly approved a $1.2 billion bond which largely went to new school construction and renovations. The tax increase for that bond was projected at 4.5 cents; however, the district has maintained the same tax rate in the years since the bond’s passage.
The upcoming bond breakdown is as follows:
Facilities Renovations and Additions: $986,991,531
Instructional and Support Facilities: $258,208,345
Safety and Security Enhancements: $207,656,706
Some of the projects include new elementary and middle schools, classroom phones, metal detectors, new police vehicles, and radios. However, the bond also includes some items that are often tucked away in bond referendums, like wireless devices.
This won’t be the last, as the district is already looking to future bonds. Cy-Fair ISD said they trimmed this bond down to what they deemed “necessary items.”
According to a local news outlet, other projects like electrical, plumbing, HVAC, and some roof replacements amounting to $780 million will be considered for future bonds.