We wrote about how your EPISD debt service (interest and sinking fund or I&S) rate will have to go up next year in EPISD–some real numbers.
The district wants the voters to approve lowering the I&S rate from 24 cents per hundred to 14 cents per hundred and then adding those 10 cents to the current maintenance and operations rate of $1.07 thus making that rate $1.17 per hundred.
The district knows that they will actually need an I&S rate of 31 cents for 2018-2019.
Some will tell us not to worry because raising the I&S rate from 14 to 31 cents next would trigger a rollback election.
This Texas attorney general opinion tells us that they can raise the rate up to the maximum allowed (50 cents) without triggering a rollback election:
“There is no ceiling or limit on the debt rate for the purposes of the
rollback rate calculation. See TEX. TAX CODE ANN. § 26.08(n)(2)(A)(iv), B(iii) (Vernon SUpp.
2009). Any increases in the adopted debt service rate necessary to pay a school district’s debt
increases the “current debt rate” component of the rollba.ck formula and the combined rollback tax
rate. See id. ; see also COMPTROLLER GUIDE, supra note 6, at 13-14 (“The portion of the overall rate
used to retire debt may rise as high as necessary without triggering the threat of a rollback.”).]]”
They are not telling us the whole story.
We deserve better