1. WHAT IS A BOND?
A bond is similar to a home mortgage. It is a contract to repay borrowed money with interest over time. Bonds are sold by a school district to competing lenders to raise funds to pay for the costs of construction, renovations and equipment. Most school districts in Texas utilize bonds to finance new facilities and renovations..
2. HOW CAN BOND FUNDS BE USED?
Bond funds can be used to pay for new buildings, additions and renovations to existing facilities, land acquisition, technology infrastructure and equipment for new or existing buildings. Bonds cannot be used for salaries or operating costs such as utility bills, supplies, building maintenance, fuel and insurance.
3. WHAT IS A BOND ELECTION?
School districts are required by state law to ask voters for permission to sell bonds to investors in order to raise the capital dollars for projects such as renovation to existing buildings or building a new school. Essentially, the voters are giving permission for the District to take out a loan 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.
4. IF THE BOND ELECTION IS APPROVED BY VOTERS, DOES THE SCHOOL DISTRICT IMMEDIATELY INCUR THE DEBT?
No. The bonds do not cost the district anything until they are sold. Voter approval is simply an authorization for the district to issue bonds. Bonds would be sold in the future as needed to fund the specified projects.
5. WHERE CAN I FIND EXACTLY WHAT’S PROPOSED IN THIS BOND ELECTION?
Visit the Bond Proposal page to see a breakdown of what is proposed in this bond election.
6. WHAT WILL BE ON MY BALLOT?
State law requires the statement, “THIS IS A PROPERTY TAX INCREASE” on all school district bonds, regardless of the tax rate impact. (86th Legislative Session, Tex. Edu. 45.003, (2019)) Click here to see the required ballot language.
Regarding the 2024 Alvin ISD Bond Election, should voters approve the bond proposition, the tax rate would decrease by 2¢ for the 2025-2026 school year. The rate would then stay at or below that level.
1. WHAT IS ALVIN ISD’S CURRENT TAX RATE?
Alvin ISD’s current Maintenance & Operations (M&O) Tax Rate is $0.7575 and its Interest & Sinking (I&S) Tax Rate is $0.4348 for a total tax rate of $1.1923. Visit the Tax Info page to learn more about school taxes.
In September, the Board of Trustees will be adopting the 2024-2025 tax rate. That rate is currently proposed to be $1.17, which is more than 2 cents less than the prior year rate.
2. HOW WILL THE 2024 BOND PACKAGE AFFECT MY TAXES?
The approval of the bond proposition would enable a 2¢ reduction in the tax rate, which would be $1.15 per $100 of valuation. The rate would stay at, or below, that reduced rate.
3. HOW WOULD OUR RATE GO DOWN IF WE APPROVE A NEW BOND ELECTION?
Alvin ISD carefully managed the projects from the 2018 bond, and finished all projects under budget while paying off bonds early. As our community has grown with additional neighborhoods and businesses, this added growth helps pay for school bonds, meaning the rate can go down even with the approval of the 2024 proposition.
4. WHAT IF I’M OVER 65 AND RECEIVE THE “SENIOR CITIZEN EXEMPTION” AND MY HOME VALUE GOES UP? WILL MY SCHOOL TAXES INCREASE?
No. According to state law, the dollar amount of school taxes imposed on the residence homestead of a person 65 years of age or older cannot be increased above the amount paid in the first year after the person turned 65 – regardless of changes in tax rate or property value – unless significant improvements are made to the home. Normal repairs, maintenance, the economic impact of the market, and bond elections cannot increase the amount of taxes you will pay once a tax ceiling is in place on that homestead.
1. WHO IS ELIGIBLE TO VOTE IN THIS ELECTION?
Any registered voter who lives within the Alvin ISD boundaries is eligible to vote in this bond election.
2. CAN I STILL REGISTER TO VOTE IN TIME FOR THIS ELECTION?
In order to vote in the November 5, 2024 election, the deadline to apply for voter registration is October 7, 2024 i Register to vote here.
3. HOW DO I KNOW IF I AM REGISTERED?
Visit this website to check your registration status.
4. WHERE CAN I VOTE?
Click here to find polling locations.
