Welcome to the CHISD Property Tax Information site
| Final Vote (Unofficial, as of 10 September 2018) | ||
|---|---|---|
| For | Against | Total |
| 1064 | 1556 | 2620 |
| Summary of "Swap-Ortunity" Impact on CHISD Tax Rate Maximums | ||
|---|---|---|
| Property Tax Fund | Maximum Rate per $100 | |
| TRE Fails | TRE Passes | |
| Maintenance & Operations (M&O) | $1.04 | $1.17 |
| Interest & Sinking (I&S for Bond repayment) | $0.50 | $0.50 |
| Total Rate: | $1.54 | $1.67 |
To put this TRE "Swap-Ortunity" request into some context:
- CHISD has a projected $20,572,183 M&O fund balance as of May 31, 2018
- CHISD has added nearly $13M to their M&O fund balance since June 30, 2014
- Given CHISD has been running a "surplus" in their M&O fund each of the last several years, it is hard to understand why they require a 12.5% increase in their M&O tax rate and the associated cost of the State Law mandated election to approve the increase
Some perspective on the CHISD I&S fund and how it influences the TRE "Swap-Ortunity":
- CHISD has added nearly $10M to their I&S Fund balance since June 30,2014 implying they have been "overcharging" for I&S the last several years
- The May 31, 2018 fund balance of $18,872,887 is approximately 150% of the CHISD annual debt service requirement - some sort of reserve should be expected, however, 150% is excessive and unnecessary
- Given CHISD has been running a "surplus" in their I&S fund each of the last several years, it is hard to understand why they haven't already lowered the I&S tax rate - something they can do without the cost of an election
The "Swap-Ortunity" marketing ploy of "giving back a penny in tax rate" seems rather manipulative in the face of the actual budget and the growth of their M&O and I&S Fund balances
This site is a work in progress, check back for updates
Last changed: September 11, 2018, at 04:05 AM