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On your ballot
"The issuance of $127,000,000 of bonds by the Waxahachie Independent School District for school facilities and to purchase necessary sites for school facilities and levying the tax in payment thereof. THIS IS A PROPERTY TAX INCREASE."
This statement is required for all Texas school bonds but if approved by voters, the 2021 bond will produce no tax rate increase for Waxahachie ISD taxpayers.
As part of House Bill 3 passed by the 86th Texas Legislature in 2019, all ballot language for school bond elections MUST include the statement, “THIS IS A PROPERTY TAX INCREASE.” However, the 2021 bond will NOT increase the district’s current tax rate if passed.
A combination of factors has placed Waxahachie ISD in a position to issue $127 million in bonds without having to raise the district’s current tax rate:
- Continued growth in our community, both residential and commercial. As our tax base grows, taxes collected from that growth rise without raising the tax rate.
- Interest rates are historically low.
- Decline in existing debt service. Waxahachie ISD’s annual debt payments are scheduled to decline over time as the district pays down debt.
The Board of Trustees has decreased the school tax rate for all Waxahachie ISD taxpayers in each of the past two years. In addition, the district regularly monitors and reviews its debt portfolio and refinances debt when possible to save taxpayer dollars.
Waxahachie ISD has received the highest rating of financial integrity by the state each year since the 2002-2003 school year. Waxahachie ISD has also received an AAA bond rating, showing that the district remains fiscally responsible with taxpayer money and has a history of paying debt on time.