Here is what you need to know about the much talked about School Bond Election.
Who is behind it? Round Rock ISD Board of Trustees. What does this mean to you? The three different propositions total $572.1 million (all focused on education) in additional taxes that would cost the average home owner an average of about $26.74 per year, an estimate taken off the cities ISD website. On the surface all this sounds nominal considering that they plan to build a new elementary and a new High School. However you must know that the city is making more money than it ever has, all this additional income coming form the rise in property taxes. In the last two years the rise in property values have gone up 20%, additionally as new homes are built the city receives a lot more money due to the improvements on the land in form of new property taxes on those improvements. So considering that all of our taxes allow the city to operate, as more people join the pool, and as more money gets added to the pot per person, a good question to ask is not “Should we pay an additional $26.74 to accommodate growth?", but rather why are the current property taxes not going down?
School bond proposition 1; to cover 7 projects at an estimate of $380,000,000.00 School bond proposition 2; to cover 4 projects at an estimate of $133,000,000.00 School bond proposition 3; to cover 7 projects at an estimate of $56,000,000.00