Program Information:
FAQs
Resources:
Frequently Asked Questions
Exactly how much is the District asking for?
The Board of Trustees called a $12.9 million bond election for a new elementary school to be brought before voters on November 7, 2006.
What does this bond election include?
- Construction of a new elementary school on the acreage owned by Sanger ISD located immediately south of Sanger High School on Indian Lane- it will house 750 students from grades EC-5 and will open at the beginning of the 2008-2009 school year
- All early childhood and pre-kindergarten students will attend the proposed new elementary school along with K-5 students in the east attendance zone. Students in the west zone will be served by Chisholm Trail Elementary School for grades K-2 and Clear Creek Intermediate School for grades 3-5
- The relocation of Sixth Grade students to the old Sanger Middle School downtown campus beginning in the 2008-2009 school year
- The relocation of the Linda Tutt Learning Center, Challenge and Journey Programs to the Tenderfoot Primary School campus beginning in the 2008-2009 school year
- The relocation of Central Administration into the building being vacated by the Linda Tutt Learning Center
- The utilization of all Sanger ISD facilities
How much money does that mean to me as a taxpayer?
The actual cost of the Capital Improvement Program will depend on the dollar amount of financial assistance to be received from the State to pay for the bonds, the District’s property values, and the actual interest rates received on the bonds, which are currently near historical lows.
Without State Funding Assistance
The District’s Interest and Sinking (“I&S”) tax rate (the portion of the District’s tax rate used for the payment of bonds) is projected to increase by an average of 1.0 cent in each of the next 3 years (i.e. years 2007/08, 2008/09 and 2009/10) for a total of 3.0 cents.
With State Funding Assistance
Pursuant to current State funding regulations, the District could receive up to $8.25 million of State assistance from the Existing Debt Allotment Program (“EDA”). If received, the District must use such funds to help pay for the Bonds and thereby, reduce the cost to local taxpayers. Should the District’s bond program receive State funding assistance from the EDA Program, the projected tax rate increase is expected to be 1.0 cent in each of the next 2 years (i.e. years 2007/08 and 2008/09) for a total of 2.0 cents.
The estimated cost of the Capital Improvement Program based upon various home values is shown below.
|
Annual Tax Increase |
|
Market Home Value |
Without State Funding(3¢) |
With State Funding (2¢) |
$75,000 |
$18.00 |
$12.00 |
$100,000 |
$25.50 |
$17.00 |
$150,000 |
$40.50 |
$27.00 |
$200,000 |
$55.50 |
$37.00 |
*Taxpayers 65 years of age and older who have applied for and received the Age 65 Freeze on their homestead will not pay any amount of school taxes on their homes above their frozen level even with a successful bond election. The amount of reduced taxes from the recent legislation will have to be calculated by each individual on a case by case basis. |
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How does this affect taxes for those citizens 65 years and older?
Taxpayers 65 years of age and older who have applied for and received the Age 65 Freeze on their homestead will not pay any amount of school taxes on their homes above their frozen level even with a successful bond election. The amount of reduced taxes from the recent legislation will have to be calculated by each individual on a case by case basis.
Why is this bond being called at this time and how will it address the future of our district?
In the 2005-2006 school year, enrollment in Sanger schools rose 7.7 percent over the previous year. Data on new housing indicates that student enrollment will continue to increase, especially in the next 2-3 years. The average annual growth rate expected over the next 10 years is 5.5 percent. Sanger ISD started this school year with an additional 143 students enrolled. Currently, there are over 2,500 students enrolled in Sanger schools.
At this time, a new elementary school is being proposed in the bond election to address our current growth. Future bond elections for additional facilities will likely be held as the District grows.
If the bond passes, all early childhood and pre-kindergarten students will attend the proposed new elementary school along with K-5 students in the east attendance zone. Students in the west zone will be served by Chisholm Trail Elementary School for grades K-2 and Clear Creek Intermediate School for grades 3-5.
Where will the new elementary school be built, how many students will it serve and when will it open?
The new elementary school will be built on Indian Lane, adjacent to Sanger High School. It will serve 750 students and will open at the beginning of the 2008-2009 school year.
What did the Facilities Committee recommend as guidelines for the new elementary school?
The committee recommended that the new elementary become a prototype for future SISD elementary schools. Prototypes will save the District in design fees and design time. It was also recommended that the facility be two-story with masonry exterior, have windows in each classroom, a low-slope roof, concrete drives, a geothermal HVAC system and a regulation-sized gymnasium. Since it will be regulation-sized, the gym can be utilized by the High School as well.
What is the benefit of a geothermal HVAC system?
Geothermal HVAC Systems are similar to ordinary HVAC Systems with outside compressors, but geothermal uses the ground instead of outside air to provide heating and air conditioning. Because the earth has a temperature which is near 72 degrees constantly, it can be used to naturally heat and cool the building without the use of an outside compressors. These systems are among the most efficient heating and cooling technologies currently available.
Is there any way to fund this other than a bond? Can’t we use savings instead?
The cost of a new elementary school exceeds the amount of savings the district maintains and the district cannot generate enough new tax revenue to pay for these items now. In addition, by using a bond, the capital improvements will be financed over their useful life and will allow future residents to assist in the payment of the bond.
How does the bond process work?
- Bonds are approved by voters.
- Bonds are sold to investors.
- Bond proceeds are delivered to the school district about four weeks after the bond sale.
- Upon receipt of the bond proceeds, the district may enter into contracts for construction of facilities.
- Each year, the Board must set a tax rate in two parts: one to cover the operating costs (payroll, supplies and equipment, insurance, utilities, etc.) and the other to pay principal and interest due on bonds.
- Bonds may only be used for capital improvements and related costs. They may not be used for personnel, utilities and other such operating expenses.
Who sets appraised property values?
State law requires county appraisal districts throughout the state. Therefore, the Denton County Appraisal District sets the valuations of property within SISD.