Tax Ratification Election Presentation
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Transcript of Tax Ratification Election Presentation
AN UPDATE ON
SCHOOL FINANCE& TAX RATIFICATION ELECTION
THE TEXAS LEGISLATURE UNDER-FUNDED EDUCATION
BY $5.4 BILLION FOR A TWO YEAR PERIOD!
WHAT IMPACT DOES THIS HAVE ON
GEORGETOWN ISD?
$7.2Million
in State Aid
20112012
4.8Million
20122013
2.4Million
BESIDES STATE AID REDUCTIONSRevenue per student frozen since 2006.No additional revenue due to increased property values.Reduction also in Federal Entitlements.Increased operational costs.
WHAT HAS GISD DONE TO MEET THESECHALLENGES OF REDUCED REVENUE?
Georgetown ISD
PERSONNEL REDUCTION HISTORY
Employees Reduction
2010-2011 1692 -2011-2012 1570 (122)
2012-2013 1484 (86)
208
Three YearSalary/Benefit Freeze
for all Employees
Eliminationof all Major
Capital Purchases
OTHER REDUCTIONSUse of Substitutes - Sub Benefits
Staff Travel - Supplies - Bus RoutingTrash Pickup - and more ...
GEORGETOWN ISD
CURRENT BUDGET ANALYSIS
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At theend of20122013
$653,674General Fund Deficit
GEORGETOWN ISD
TAX RATE INFORMATION
TAX RATE COMPONENTSGeneral Fund (Maintenance and Operations M&O)
Predominately used for employee salaries and benefits.Utilities, Supplies, Equipment, TravelContracted Services
Debt Service (Interest and Sinking I&S)
Can only be used for payment on bonds sold to construct district facilities.Cannot be used for operational costs such as salaries.
Williamson County School Districts
TOTAL TAX RATE 2011-2012HuttoHuttoHuttoHuttoHuttoHuttoHuttoHuttoHuttoHuttoHutto $1.5401
LeanderLeanderLeanderLeanderLeanderLeanderLeanderLeanderLeanderLeander $1.4998
PflugervillePflugervillePflugervillePflugervillePflugervillePflugervillePflugervillePflugervillePflugerville $1.4800
TaylorTaylorTaylorTaylorTaylorTaylorTaylorTaylor $1.4500
JarrellJarrellJarrellJarrellJarrellJarrellJarrell $1.3900
GEORGETOWNGEORGETOWNGEORGETOWNGEORGETOWNGEORGETOWNGEORGETOWN $1.3580
Round RockRound RockRound RockRound RockRound Rock $1.3350
Liberty HillLiberty HillLiberty HillLiberty HillLiberty Hill $1.3350
FlorenceFlorenceFlorenceFlorence $1.3000
ThrallThrallThrall $1.2100
GrangerGranger $1.1050
Coupland $1.0401
GEORGETOWN ISD INFO ON A
TAX RATIFICATION ELECTION
Understanding School FinanceSchool districts in Texas are allowed to tax up to $1.04 per $100 of property value for the district’s maintenance and operations.Tax dollars collected are supplemented with State and Federal funds.With voter approval, districts are allowed to to add an additional 13 cents to the tax rate.
IT’S ALL ABOUT THE PENNIES
Gold Pennies ($1.04-$1.06)This amount brings in taxpayer dollars and generates additional State aid.
Silver Pennies ($1.00-$1.04)The amount allowed by state law without voter approval.
Bronze Pennies ($1.06-$1.17)The amount brings in taxpayer dollars, but a portion of the funds is given to the State.
FOR GEORGETOWN ISD
- Four cents makes sense -Citizens approval of moving General Fund
tax rate from $1.04 to $1.08will generate revenue gain of $2.18 million.
Georgetown ISD
ANALYSIS IN PENNY INCREMENTS
TAX RATEOF
$1.05
TAX RATEOF
$1.06
TAX RATEOF
$1.07
TAX RATEOF
$1.08
LOCALTAXPAYERAMOUNT
$536,081 $1,071,368 $1,605,872 $2,139,605
REVENUEINCREASE
WITHSTATE AID
$711,527 $1,420,998 $1,785,811 $2,180,174
Georgetown ISD
ANALYSIS IN PENNY INCREMENTSTAX RATE
OF$1.08
TAX RATEOF
$1.09
TAX RATEOF
$1.13
TAX RATEOF
$1.17
LOCALTAXPAYERAMOUNT
$2,139,605 $2,672,577 $4,797,108 $6,910,281
REVENUEWITH
STATE AID$2,180,174 $2,558,398 $4,061,644 $5,549,783
+ / -GISD GETSTO KEEP
+$40,569 -$114,179 -$735,464 -$1,360,498
Georgetown ISD
TRE TAX LEVY IMPACTType of
PropertyTaxes at
Current RateTaxes at TRE
Approved RateAnnual
DifferenceMonthlyAverage
$100,000Home $1,358 $1,398 $40 $3.33
$194,000Average Home $2,640 $2,718 $78 $6.50
$500,000Business $6,790 $6,990 $200 $16.67
$1,000,000Business $13,580 $13,980 $400 $33.34
NOTEOver 65 and disabled individuals whose taxes are frozen
WILL NOT experience any tax increase if the TRE is passed.
Maintain the level and qualityof current student programs.
HOW WOULD TRE FUNDS BE USED?
GEORGETOWN TRE SUMMARY
Voters will be asked to approve an additional $0.04 per $100 tax rate.Proposed tax rate will generate an additional $2,180,174 in state and local revenues.Early voting begins 9/24.Election date is 10/9/12.