Frequently Asked Questions

General

  • 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 to renovate existing buildings or build a new school. Essentially, it’s permission to take out a loan to build, renovate 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.

  • Yes. Recent research by the Environmental Protection Agency suggests that a school’s physical environment can play a major role in academic performance. Leaky roofs and problems with heating, ventilation and air conditioning systems can trigger a host of health problems – including asthma and allergies – that increase absenteeism and reduce academic performance. Research links key environmental factors to health outcomes and students’ ability to perform.

  • Working with the Board of Trustees, teachers, and administrators from across the district, the facilities planning committee developed a list of items to consider for inclusion in a bond package. The District has been evaluating current facilities and equipment, ongoing enrollment, growth, and other district priorities with the Board of Trustees.

  • The buses will be a separate bond sale, which will be financed over the course of 10-15 years.

  • Under state law, bond funds must be used for items listed on the election ballot. In addition, if the bond passes, the district will invite community members to join a Bond Oversight Committee. This committee will meet regularly to oversee the construction of the bond projects.

Taxes

  • If the voters approve the bond, there will be a $0.1020 tax rate impact. For the average home in CISD valued at $270,604, that impact would be $23.02 a month.

  • If you qualify for an age 65+ or disabled person residence homestead exemption, the school district taxes on that residence homestead cannot increase as long as you own and live in that home. The tax ceiling is the amount you pay in the year that you qualified for the age 65+ or disabled person exemption. The school district taxes on your residence homestead may go below but not above the ceiling amount. 

  • Texas legislature passed laws in 2019 requiring all school bond elections to include the following language on the ballot: “THIS IS A PROPERTY TAX INCREASE.” The state mandates all bond ballots to include this language regardless of what individual exemptions each voter may have. The passage or failure of this bond will not impact your school district tax amount if you have an approved homestead exemption.

  • A school district’s tax rate is comprised of two components: the Maintenance & Operations tax (M&O) and the Interest & Sinking tax (I&S). The M&O rate is used to operate the school district including salaries, utilities, furniture, supplies, food, gas, etc. The I&S rate is used to pay off school construction bonds. Bond sales only affect the I&S rate.

  • Yes. The District has three bonds outstanding which are all relating to the November 2006 bond election. (The 1998 bond was paid off in 2019.) The 2006 bond approved the construction of the High School/Middle School. Since the issuance of the bonds related to the Novemeber 2006 election, we have had a tax rate as high as 0.2895 in 2009, which we have since reduced to 0.0950. In addition to reducing our I&S tax rate by 67.2%, we have also realized savings from the refinancing of bonds that total $3,560,226.

    From the 2006 bond election mentioned above, the district's total outstanding debt service is $14,971,489.96.

  • Refinancing a school bond in Texas (or anywhere else) means that a school district is replacing existing bonds (debt) with new ones, usually to take advantage of lower interest rates or better repayment terms. It's similar to how a homeowner might refinance a mortgage to get a better rate.

    Here's how it works:

    Original Bonds Issued: A school district issues bonds to borrow money for things like building schools, renovating facilities, or buying equipment. These bonds are typically repaid over 20-30 years with interest (or less, with items like buses, HVAC), usually funded through local property taxes.

    Interest Rates Change: If market interest rates go down after the original bonds were issued, the school district may be able to issue new bonds at a lower rate.

    Refinancing (Refunding): The district issues new bonds at the lower rate and uses the proceeds to pay off the older, higher-interest bonds early. This is called refunding.

    Who benefits?

    Taxpayers:

    Lower interest rates mean the district pays less in interest over time, which can translate into lower property tax rates or more efficient use of tax dollars.

    Anytime a governmental entity (school) refinances their bonds for savings, as CISD has done for savings of $3,560,226 since our last election in 2006, that governmental entity doesn’t actually save money for their operating budget. The savings goes directly to the taxpayers.

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