Waco ISD Directors Get Price Tag for Bond Issue | Education
Waco ISD paid $ 260.3 million on its current bonds, with $ 141.4 million remaining, and a bond refinance in January saved $ 106 million over the life of the bonds.
Waco ISD’s tax rate has fallen every year since its 2014 level of $ 1,400 per $ 100.
The district’s tax rate is comparable to that of neighboring districts: Midway, $ 1.2364; China Spring, $ 1.2574; Robinson, $ 1.2609; La Vega, $ 1,300; Temple, $ 1.2838; and Belton, $ 1.3598.
Traylor’s projections assume that the district’s total frozen estimated value for 2021, a measure of the total assessed value of the property for the district, is $ 6.47 billion and increases by 5% for fiscal years 2022-23, 2023-24 and 2024-25 with flat growth thereafter and a tax collection rate of 98%. Board chair Angela Tekell wondered if a slightly higher growth rate of 5.5% or 6% might be more accurate given the rise in local property values in recent years, but Traylor said 5% was a conservative and safer figure to use for projections.
In a general discussion of the Community Advisory Committee’s considerations to date, Trustees praised the participation, involvement and diversity of its community representation. Superintendent Kincannon said discussions on the design of a new Waco high school have started so that if a bond issue covering its construction passes, work can begin more quickly.