Tuesday, October 10, 2017
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What is a tax ratification election (TRE)?

            A TRE is a special election, called by the Board of Trustees, asking the voters to   approve a tax rate that is above the current $1.04 maintenance and operations tax rate allowed by state law.

 

Why are we asking for the TRE?

            The decline in appraised values would have resulted in $600,000 less state and local funding this year as well as last year. The State did have a hold harmless to help us but that went away after this year. With the passing of the TRE we will realize $330,000 and we will balance the budget while continuing to provide a superior education for your child.

 

How will the TRE affect the tax rate?

            Voters will decide on a tax ratification of 13 cents for the maintenance and operations (M&O) portion of the tax rate, which funds salaries, utilities and day-to-day operations that directly support campuses. Electra ISD will lower the interest and sinking rate (I&S), which pays for voter approved debt, by 13 cents in what is called a “tax swap”. The .13 cents on the I&S side will pay off an earlier bond decreasing the overall I&S rate by .13 and increase the M&O side by the same amount.

 

 

Why raise the M&O rate and lower the I&S rate as shown above?

     This reduces the local tax impact because M&O pennies generate state funding that I&S pennies do not.  Electra ISD is capturing state funding that is first come first serve for all school districts while decreasing the debt service side that generates only the money to pay existing bonds. If voters will approve this it will increase State revenue by approximately $130K and Local revenue by about $200K.

 

How will the proposed TRE impact taxpayers financially?

     The first year there will be no change for tax payers as we are simply moving .13 from the I&S side to the M&O side which will significantly increase revenue for the school while still paying the bond obligations. In the second year and thereafter the district is asking to get to keep the .13 on the M&O side for the extra revenue. Since the oldest bond would be paid off in the second year if this doesn’t pass the .13 would come off of the I&S side. This fluctuates with property evaluations.

 

Over 65-years-old or disabled?

            Residents who have received an Over 65 or Disability freeze will incur NO tax impact on their homestead as a result of an approved TRE election.

 

The TRE ballot language is shown below and its wording is prescribed by law. The ballot reads:

 

" APPROVING THE AD VALOREM TAX RATE OF $1.68 PER $100 VALUATION IN ELECTRA INDEPENDENT SCHOOL DISTRICT FOR THE CURRENT YEAR, A RATE THAT IS $0.13 HIGHER PER $100 VALUATION THAN THE SCHOOL

DISTRICT ROLLBACK TAX RATE. IF THIS PROPOSITION IS APPROVED, THE BOARD OF TRUSTEES WILL TAX AT A RATE NO HIGHER THAN $1.55.”

 

 

Why does the ballot show a tax rate of $1.68 when everything else says the tax rate will be restructured to $1.55?

 

We are required by law to word the ballot as it reads above. The Board of Trustees adopted a resolution at the July 17th Board meeting stating: “THE BOARD OF TRUSTEES WILL TAX AT A RATE NO HIGHER THAN $1.55.”

 

Voting Times & Locations

 

Early Voting

 

Electra ISD New JH/HS Library conference room. 200 West Anderson.      

September 11- 15 from 8:00 am - 4:00 pm  

September 18-22  from 8:00 am – 4:00 pm          

 

Electra Elementary Cafeteria,  621 S. Bailey

September 12 from 5:30 pm - 8:30 pm

 

 

New Electra JH/JHS School, 200  W. Anderson

Library conference room

September 19 from 5:30 pm - 8:30 pm

 

 

Election Day

Electra ISD New JH/HS Library conference room. 200 West Anderson.      

 September 26 from 7:00 am - 7:00 pm

 

 

 

 

 

 

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