The law provides that a school district must hold an election and get permission from voters to sell bonds and to levy taxes to pay for them. Bonds are sold to provide funding for capital improvements that last for a number of years. Such investments are too large to be included in annual operating budgets. Just as an individual agrees to repay a new home loan, voters authorize the District to sell and repay bonds for making major capital improvements. School boards can only levy I&S taxes in the amount necessary to repay the bonds. If the amount needed to pay the bonds is less, the district taxes less.
Bond funds can be used to pay for new buildings, additions and renovations to existing facilities, athletic structures, land acquisition, technology infrastructure and equipment for new or existing buildings. Bonds cannot be used for salaries or operating costs such as utility bills, supplies, building maintenance, fuel, and insurance.
This decision is based on carefully considering all areas of need around our district while balancing the expectations of our community. Aging facilities, programs that are being taught in spaces that are too small and lack the resources to meet the needs of the program, classrooms that do not meet recommended standards, and safety and security concerns are all contributing factors in the need to pursue a bond.
In September of 2021, a committee was formed. The committee included 41 community members from the district, including parents, community and business leaders, representatives from civic organizations, and elected officials.
The district commissioned a master plan through a community supported Facilities Design and Decisions Committee, and a strategy was developed to orderly plan and prioritize needed improvements. It was determined by the committee that the most immediate needs were safety & security and addressing aging buildings and facilities.
Homeowners borrow money in the form of a mortgage to finance the purchase of a home. A school district borrows money in the form of bonds to finance new schools and renovation projects. Both are repaid over time, but in order for a school district to sell bonds (borrow money) it must go to the voters for approval. By law, bond funds may not be used to fund daily operating expenses or salaries. Bond funds may only be used for the projects described.
Moving forward with a bond election, Mount Vernon ISD has a duty to inform our entire community on the specifics of the bond, the projects included, and how it will impact taxpayers, but more importantly how it will impact our students. The district will host public meetings for anyone in the community to attend, present information at each campus, share details via website and social media, mail, and news outlets, to name a few. If you want to make sure you are receiving information or have suggestions on how to reach our community at large, please let us know. It’s important that our community members be fully educated on the whole bond process and fully empowered to vote how they see fit.
Tuesday, April 11, 2023 at the Auditorium at 6:00pm
Monday, April 24, 2023 at the Auditorium at 6:00pm
Thursday, May 02, 2023 at the Auditorium at 6:00pm
or visit the Mount Vernon ISD Bond 2023 webpage at www.mtvernonisd.com/bond2023
Proposition A is estimated to be $23.84 per month on a $222,809 home. Proposition B is estimated to be $8.15 per month on a $222,809 home. The total estimated impact for both Proposition A and B is $31.99 per month on a $222,809 home.
Current homeowners ages 65 and over will not be impacted by the passage of this bond. Their school taxes will not go above the frozen levy amount/ceiling established when the Over-65 exemption was granted (unless improvements or additions are made to the residence). To have your school taxes frozen, you must file a homestead application with the appropriate appraisal district and be granted the Over-65 exemption.
Ballot language will include the statement "THIS IS A PROPERTY TAX INCREASE." Legislation passed in the 2019 Texas Legislative Session requires that school districts include this language, regardless of the bond's impact on the district’s tax rate.