Trustees from both Belton and Temple independent school districts have placed bonds on the November ballot, with Temple also putting forth a voter approval tax rate election.
According to Belton ISD’s bond election call, trustees approved a bond package that would add $161,835,000 to the district’s debt, not including interest.
Documents released by the school district show that bond interest will cost tax payers an additional $186 million, making the total cost of the bonds nearly $348 million.
The total bond amount is divided between four propositions:
Proposition A – $92,925,000 ($203,255,457 with interest) for the construction and renovation of school buildings.
Proposition B – $43,725,000 ($95,648,419 with interest) for construction, renovation, and equipment improvements to Tiger Field and Bronco Field.
Proposition C – $6,000,000 ($6,820,313 with interest) for the purchase or improvement of technology equipment.
Proposition D – $19,185,000 ($41,959,631 with interest) for the construction of school swimming complexes.
Currently, Belton ISD has $567,553,700 in outstanding debt, including interest.
Each bond proposition will feature the following ballot language as required by state law: “THIS IS A PROPERTY TAX INCREASE.”
Temple ISD trustees approved both a bond and a VATRE for the general election ballot, divided between two propositions.
Proposition A would increase Maintenance and Operations tax revenue by 5.25 percent to strengthen security around school campuses. It would generate approximately $2.75 million, if approved.
Proposition B is for a $218,868,037 bond, interest included, to expand and renovate school facilities.
Combined, both propositions would increase the property tax bill for a home valued at $250,000 by $59 annually.
Temple ISD currently has $431,457,982 in bond debt, including outstanding interest.
All propositions will be on the November 4 ballot. Early voting begins October 20.
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