Loading ...“Tax Swap” Coming to a Vote
Posted By admin on August 19, 2011
State Legislators ended the special session of the 82nd Legislature, cutting public education funding by $4 Billion, along with an additional cut of $1.3 Billion in State funded grants. The impact of this reduction of State funds directly Wimberley ISD is approximately $2.4 million over the next two years.
According to a recent mailing sent out to area residents: Approval of a “Tax Swap” allows WISD to maximize taxpayer dollars for the annual operating budget, without a tax rate increase. Funds generated from the 3 additional pennies will be allocated to offset the decrease of estimated $2.4 million in state revenue to WISD over the next two school years.
The “pennies” in the mailing refer to an increase in the Maintenance and Operation (M&O) tax rate from $1.06 to $1.09. The “swap” refers to a lowers of the Interest and Sinking (I&S) tax rate from $0.1727 to $0.1427. The mailing also states that the net result to the taxpayer is neither an increase nor decrease in taxes but allows the district to use more of their funding for operational expenses such as teacher salary, food service, transportation etc.
Early voting begins Tuesday, August 23rd through Friday, September 2nd and will take place at the Bowen Campus, 14501 Ranch Road 12 in Wimberley. Hours are as follows:
- 8-23 through 8-25 (8AM-4:30PM)
- 8-26 (8AM-7PM)
- 8-27 (10AM-2PM)
- 8-29 through 8-31 (8AM-4:30PM)
- 9-1 (8AM-7PM)
- 9-2 (8AM-4:30PM)
Election Day is September, 9 (7AM-7PM)
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