QUESTIONS

Questions about the Bond

1. WHAT IS A BOND?

A bond is similar to a home mortgage. It is a contract to repay borrowed money with interest over time. Bonds are sold by a school district to competing lenders to raise funds to pay for the costs of construction, renovations and equipment. Most school districts in Texas utilize bonds to finance renovations and new facilities.

2. HOW CAN BOND FUNDS BE USED?

Bond funds can be used to pay for new buildings, additions and renovations to existing facilities, 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.

3 WHAT IS A BOND ELECTION?

School districts are required by state law to ask voters for permission to sell bonds to investors in order to raise the capital dollars required for projects such as renovation to existing buildings or building a new school. Essentially, the voters are giving permission for the District to take out a loan and pay that loan back over an extended period of time, much like a family takes out a mortgage loan for their home. A school board calls a bond election so voters can decide whether or not they want to pay for proposed facility projects.

4. IF THE BOND ELECTION IS SUCCESSFUL, DOES THE SCHOOL DISTRICT IMMEDIATELY INCUR THE DEBT?

No. The bonds do not cost the district anything until they are sold. Voter approval is simply an authorization for the district to issue bonds. Bonds would be sold in the future as needed to fund the projects.

5. WHERE CAN I FIND EXACTLY WHAT’S PROPOSED IN THIS BOND ELECTION?

Visit the Bond Proposal page to see a breakdown of each proposition, detailed project descriptions and what’s planned at each school.

Questions about Taxes

1. WHAT IS SISD’S CURRENT TAX RATE?

A bond is similar to a home mortgage. It is a contract to repay borrowed money with interest over time. Bonds are sold by a school district to competing lenders to raise funds to pay for the costs of construction, renovations and equipment. Most school districts in Texas utilize bonds to finance renovations and new facilities.

2. HOW WILL THE 2022 BOND PACKAGE AFFECT MY TAXES?

If approved, the SISD tax rate will increase from .08 to .45

3. WHAT IF I’M OVER 65 AND RECEIVE THE “SENIOR CITIZEN EXEMPTION” AND MY HOME VALUE GOES UP? WILL MY SCHOOL TAXES INCREASE?

No. According to state law, the dollar amount of school taxes imposed on the residence homestead of a person 65 years of age or older cannot be increased above the amount paid in the first year after the person turned 65 – regardless of changes in tax rate or property value – unless significant improvements are made to the home. Normal repairs, maintenance and the economic impact of the market cannot increase the amount of taxes you will pay once a tax ceiling is in place on that homestead.

Questions about Voting

1. WHO IS ELIGIBLE TO VOTE IN THIS ELECTION?

Any registered voter who lives within the SISD boundaries — and whose voter registration is based on their current SISD residence — is eligible to vote in this bond election.

2. WHERE CAN I VOTE?

Baylor County Courthouse – 101 S. Washington Street, Seymour TX, 76380