The Frisco ISD Board of Trustees will meet Monday in special session for a public hearing and vote on the proposed 2018 tax rate.
The Board will consider reducing the District’s combined property tax rate by two cents, from $1.46 to $1.44 per $100 valuation, while also shifting pennies from the portion of the tax rate that pays for debt to the portion that pays for operations.
This tax swap would need to be approved by voters. If the tax rate is adopted as proposed, a Tax Ratification Election (TRE) would be called for November 6, 2018, for voters to ratify a 13-cent increase to the maintenance and operations (M&O) portion of the tax rate. The proposed tax rate ordinance also includes a resolution to decrease the interest and sinking (I&S) portion of the tax rate by the same amount if the TRE passes.
In addition to adopting the 2018 tax rate, trustees are also expected to call a $691 million bond election for November. The bond and TRE would be listed on the ballot as separate propositions.
The bond package, initially proposed at $695 million, was crafted this summer by a committee of FISD community members, parents, students and staff who evaluated student enrollment projections, facility and maintenance needs and more. Frisco ISD continues to add more students than any other school district in Texas and many buildings in the District are starting to age.
The bond and TRE would allow Frisco ISD to:
Meet the needs of enrollment growth
Promote student opportunity
Enhance safety and security
Maintain, refresh and renovate existing facilities
Upgrade instructional technology
Recruit, retain and support high-quality employees
Monday’s meeting will begin at 7:30 p.m. at the FISD Administration Building, 5515 Ohio Drive in Frisco. The meeting is open to the public and will be streamed live online at http://friscoisdtx.swagit.com/live. View the meeting agenda here.