Argyle voters will vote on a $423 million school bond package on May 3. The district says it needs this amount to meet its 12% average annual increase in student enrollment.
The bond’s website said the 2025 bond will not increase the current Argyle ISD tax rate, and any increase in a taxpayer’s taxes is due to increased property value.
“Their forward-thinking approach and commitment to long-range planning provide our community with the opportunity to consider this bond package to address our fast-growing district,” said Argyle ISD Superintendent Dr. Courtney Carpenter.
The bond is split into two propositions and was approved by the board of trustees on Feb. 12.
Argyle ISD Proposition A
Proposition A would cost about $393,735,000, focusing on campus development and construction, including constructing a new middle and elementary school, miscellaneous upgrades to existing campuses, and technology improvements. Voters will choose either “For” or “Against.”
“THE ISSUANCE OF $393,735,000 OF BONDS BY THE ARGYLE INDEPENDENT SCHOOL DISTRICT FOR SCHOOL FACILITIES AND THE PURCHASE OF LAND, BUSES AND VEHICLES AND THE LEVY OF TAXES SUFFICIENT TO PAY THE PRINCIPAL OF AND INTEREST ON THE BONDS. THIS IS A PROPERTY TAX INCREASE.”
Argyle ISD Proposition B
Proposition B has an estimated cost of $29,435,000 and centers around the construction of a new baseball and softball complex at Canyon Falls High School. Voters will choose either “For” or “Against.”
“THE ISSUANCE OF $29,435,000 OF BONDS BY THE ARGYLE INDEPENDENT SCHOOL DISTRICT FOR A NEW BASEBALL AND SOFTBALL COMPLEX AT ARGYLE HIGH SCHOOL IN CANYON FALLS AND THE LEVY OF TAXES SUFFICIENT TO PAY THE PRINCIPAL OF AND INTEREST ON THE BONDS. THIS IS A PROPERTY TAX INCREASE.”
More information on the proposed bond and a full list of voting locations are on the district’s website.
Early voting runs from April 22-29. Election Day is May 3 from 7 a.m. to 7 p.m.
HOW ARE TEXAS SCHOOL DISTRICTS FUNDED?
Texas school districts are funded by three sources: Federal money, state money and local taxes. Local taxes comprise two tax rates, Maintenance and Operations (M&O) and Interest and Sinking (I&S), set by the school board. M&O is the money used to pay for the day-to-day operations of a school district, including salaries and professional development, utilities, curriculum, building maintenance, and student services. I&S is the money generated from bonds to pay for new buildings, renovations, security, buses and other large expenses. The I&S tax rate is used to repay the bonds. Funding approved for M&O and I&S projects can’t be mixed.
HOW CAN BOND MONEY BE SPENT?
Bond money can only be spent on capital projects like new buildings, renovations, security upgrades, land acquisition, and other non-recurring costs. It can’t be spent on salaries, staff, utilities, fuel, or other recurring costs. The money repaid from a bond will include interest over time, generally 30 years. Many districts try to repay their bonds early to save on the interest obligation.
WHAT IS A VATRE?
VATRE stands for Voter Approval Tax Rate Elections. If a district needs to increase funding for salaries, daily operating expenses, or other recurring costs, then they have to ask voters to approve of an increase of the M&O Voter Approved Tax Rate (VATR). Many districts hold VATREs to increase M&O funding because they have a deficit. State legislators have not increased funding for schools since 2019, and with inflation and the addition of unfunded mandates, such as adding an armed officer on each campus, many school districts say they are strapped for cash.
‘THIS IS A PROPERTY TAX INCREASE’
A state law requires Texas school districts to include the statement, “This is a property tax increase,” on every ballot proposition. That is true even if the proposition does not increase the tax rate. In their proposals, many Texas school districts say they can issue bonds without increasing the I&S rate. This is often done by taking on new bond debt as old, declining debt is paid off. Read the district’s proposal thoroughly to understand whether voting for the bond package will result in a tax rate change. Even without an increase in the tax rate, changes in property tax appraisals could result in a larger tax bill for the property owner.
