BISD Tax Ratification Approved by Voters

Ratification Election (TRE) held on Tuesday, October 6, 2015. The single item ballot asked voters to allow the school district to move .11¼ cents from the Interest & Sinking (I&S) fund that pays for debt to Maintenance & Operations (M&O) that pays for day-to-day operations. The total tax rate will remain the same at $1.15¼ as presented and approved in the budget at the June 25, 2015 BISD Special Called Board Meeting. The voter approved restructuring will not impact the total tax rate but will bring an additional $5 to $6 million net per year in additional state funding to be used for one-time expenditures to improve, repair, and expand district facilities and enhance school security. Moving the .11¼ cents to the M&O will generate more revenue because it is weighted at a higher level than the I&S. View the media release.