ALLEN—A new $83 million police facility tops the list of projects that Allen city officials want local property taxpayers to finance, accounting for more than half of the city’s proposed $156.5 million bond package on the November ballot.
The smallest bond proposition on the city’s wish list asks Allen voters to approve $1.5 million for public art.
All bond money must be repaid using local property taxes.
With interest, the proposed bonds would cost Allen property taxpayers significantly more than the dollar amounts shown on the ballot.
Local taxpayers already owe $153.4 million in previously approved bond debt principal and interest.
Allen voters will see five separate bond propositions on the ballot:
Prop A: $47 million
For: Street repairs
Prop B: $17 million
For: Ford Park improvements
Prop C: $1.5 million
For: Public art
Prop D: $8 million
For: Downtown revitalization
Prop E: $83 million
For: Police facilities
When voters approve bond propositions, they also authorize the city to collect whatever amount of property taxes are required to repay the bond debt, with interest. Whether or not the tax rate changes when a bond first passes, the local tax liability is increased; thus, every bond is a property tax increase.
Allen officials say they don’t expect the property tax rate to increase right away if the bonds are approved. But property owners’ tax bills will increase as property values rise, providing the city with more tax revenue to spend.
Allen is among dozens of local governments asking voters to approve bonds, tax rate increases, or both.
All Texans’ ballots will also include 14 proposed amendments to the state constitution.
Early voting runs through November 3. Election Day is Tuesday, November 7.
A list of voting locations and hours is posted on the City of Allen website.