This May, the DeSoto Independent School District board of trustees will ask voters to approve a $200 million bond to replace and improve campuses and athletic facilities.
The district said a committee of city leaders, employees, teachers, and parents made the recommendation during a town hall meeting on Jan. 22 after working on the plan for several months.
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WATCH HERE"This recommendation was based on DeSoto ISD’s education goals to provide a Triple-A Experience for its students, giving credence to the district’s holistic and well-rounded approach to educating scholars through academics, arts, and athletics," the newsletter read.
The district's financial advisor determined there will be a cumulative $0.1554 tax impact if all three parts of the bond package are approved.
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SIGN UP Proposition A would cost about $152,655,000 and, along with replacing Frank Moates Elementary School, would fund the renovation and maintenance of the following campuses: Proposition A has a tax rate impact of $0.1187.
- Cockrell Hill Elementary School
- Ruby Young Talented and Gifted Academy STEM Center
- Amber Terrace Early Childhood
- The Meadows Elementary School
- Woodridge Elementary School
- Katherine Johnson Technology Magnet Academy
- McCowan Middle School
- Central Administration and Professional Development
- DeSoto ISD high schools
Proposition B would cost $38,615,000 and fund high school athletics, including constructing the Student-Athlete Success Center. Proposition B has a tax rate impact of $0.03.
- Student-Athlete Success Center
- High School Athletics (Baseball, Soccer, Tennis, Softball, Basketball, Track, etc.)
Proposition C would cost $8,565,000 and pay for high school stadium renovations. Proposition C has a tax rate impact of $0.0067.
- High School Stadium Renovations
The election will be held on May 3, and early voting will be held April 22-29. The last day to register to vote in the election will be April 3. .
HOW ARE TEXAS SCHOOL DISTRICTS FUNDED?
Texas school districts are funded by three sources: Federal money, state money and local taxes. Local taxes comprise two tax rates, Maintenance and Operations (M&O) and Interest and Sinking (I&S), set by the school board. M&O is the money used to pay for the day-to-day operations of a school district, including salaries and professional development, utilities, curriculum, building maintenance, and student services. I&S is the money generated from bonds to pay for new buildings, renovations, security, buses and other large expenses. The I&S tax rate is used to repay the bonds. Funding approved for M&O and I&S projects can't be mixed.
HOW CAN BOND MONEY BE SPENT?
Bond money can only be spent on capital projects like new buildings, renovations, security upgrades, land acquisition, and other non-recurring costs. It can't be spent on salaries, staff, utilities, fuel, or other recurring costs. The money repaid from a bond will include interest over time, generally 30 years. Many districts try to repay their bonds early to save on the interest obligation.
WHAT IS A VATRE?
VATRE stands for Voter Approval Tax Rate Elections. If a district needs to increase funding for salaries, daily operating expenses, or other recurring costs, then they have to ask voters to approve of an increase of the M&O Voter Approved Tax Rate (VATR). Many districts hold VATREs to increase M&O funding because they have a deficit. State legislators have not increased funding for schools since 2019, and with inflation and the addition of unfunded mandates, such as adding an armed officer on each campus, many school districts say they are strapped for cash.
'THIS IS A PROPERTY TAX INCREASE'
A state law requires Texas school districts to include the statement, “This is a property tax increase,” on every ballot proposition. That is true even if the proposition does not increase the tax rate. In their proposals, many Texas school districts say they can issue bonds without increasing the I&S rate. This is often done by taking on new bond debt as old, declining debt is paid off. Read the district's proposal thoroughly to understand whether voting for the bond package will result in a tax rate change. Even without an increase in the tax rate, changes in property tax appraisals could result in a larger tax bill for the property owner.
