200000 $2448 $2543 $150000 $1786 $1816 $100000
Savoy ISD Tax Ratification Election TRE November 3, 2015 What is a Tax Ratification Election (TRE)? A tax ratification election (TRE) is a special election, called by the Board of Trustees, asking the voters to approve a tax rate that is above the $1.04 tax rate allowed by state law. $1.04 is our current rollback rate. Why are we having a TRE? As a result of the legislation passed by the Texas Legislature, Savoy ISD’s per student revenue was frozen at 2005 levels. The state cut schools again in 2011. A district cannot raise its M&O tax rate above $1.04 without a voter-approved Tax Ratification Election (TRE). Utilities, fuel, teaching supplies and the cost of living index have all risen significantly since 2005. If a district ever needs more M&O dollars than it received in 2005-06, it must call a TRE. The Savoy ISD Board approved a Maintenance & Operations (M & O) tax rate of $1.17, which is 13 cents higher than last year. The Board has called a TRE to take advantage of state incentives to school districts that invest additional local dollars in the education of our children. If we raise more money locally, the state sends us additional money to go with it. It is almost a dollar for dollar match. The TRE must pass for the district to receive the extra state funding. What will it cost me? This year with the passing of proposition 1, the homestead exemption will go from $15,000 to $25,000. If the TRE passes, homes valued at $126,000 and less will still pay less total school taxes than last year. Homes valued above $126,000 will see smaller increases due to the increased homestead exemption. Example- $150,000 home will increase $2.50 per month. A $200,000 dollar home will increase $7.92 per month. Values are set by the appraisal district.
Home Total Value
$200,000 $150,000 $100,000 $85,000 $60,000 $40,000 $25,000
2014 School Tax Bill $1.323/100 $15,000 exemption
2015 School Tax Bill $1.453/100 $25,000 exemption
$2448 $1786 $1125 $926 $595 $331 $132
$2543 $1816 $1090 $872 $509 $218 $0
Increase /Decrease School Tax Bill from 2014 to 2015 Increase $95 /year Increase $30/ year Decrease $35/year Decrease $54/year Decrease $86/ year Decrease $113/year Decrease $132/ year
What will a TRE do for Savoy ISD over the next few years? Provide funding to repair aging facilities such as the old gymnasium roof and floor Enhance technology and necessary infrastructure Add security entrances and lighting at both campuses Raise salaries to recruit and retain the highest quality teachers Prevent cutting of personnel, programs and salaries How did we get here? The current school finance system was created in 2006. If a school district needs more Maintenance & Operation money than it received in 2005-06, then it must call a Tax Ratification Election. The need to stay competitive with teacher salaries and to maintain facilities has required us to look at ways to increase revenue. If the TRE passes, Savoy ISD will receive an estimated $200,000 per year in additional revenue for the district.
How has the district been saving dollars? In spite of the efforts to decrease spending, District expenses have gone up while revenue has stayed the same. Since the state cuts, SISD has: Refinanced bonds, saving taxpayers Cut campus budgets Asked for class size waivers allowing more students in some classrooms Placed limitations on extracurricular, sports budgets and field trip travel Postponed major maintenance and upkeep projects No increase to local teacher pay scale in 6 years Implemented energy savings plans Tried to get as many grants as possible Purchased one bus in 8 years (average age of our buses is 16 years old) I am over 65. Will my taxes increase? No Tax bills on Over-65 or Disabled homesteads are frozen and will not go up unless the homeowner does significant improvements.
When and where can I vote on this?
Early voting is from Oct 19th to Oct. 30th at the Savoy ISD Administration building .
Regular voting is at The First Baptist Church Savoy on Nov. 3.
Home Total Value
$200,000 $150,000 $100,000 $85,000 $60,000 $40,000 $25,000
2014 School Tax Bill $1.323/100 $15,000 exemption
2015 School Tax Bill $1.453/100 $25,000 exemption
$2448 $1786 $1125 $926 $595 $331 $132
$2543 $1816 $1090 $872 $509 $218 $0
Increase /Decrease School Tax Bill from 2014 to 2015 Increase $95 /year Increase $30/ year Decrease $35/year Decrease $54/year Decrease $86/ year Decrease $113/year Decrease $132/ year
What will a TRE do for Savoy ISD over the next few years? Provide funding to repair aging facilities such as the old gymnasium roof and floor Enhance technology and necessary infrastructure Add security entrances and lighting at both campuses Raise salaries to recruit and retain the highest quality teachers Prevent cutting of personnel, programs and salaries How did we get here? The current school finance system was created in 2006. If a school district needs more Maintenance & Operation money than it received in 2005-06, then it must call a Tax Ratification Election. The need to stay competitive with teacher salaries and to maintain facilities has required us to look at ways to increase revenue. If the TRE passes, Savoy ISD will receive an estimated $200,000 per year in additional revenue for the district.
How has the district been saving dollars? In spite of the efforts to decrease spending, District expenses have gone up while revenue has stayed the same. Since the state cuts, SISD has: Refinanced bonds, saving taxpayers Cut campus budgets Asked for class size waivers allowing more students in some classrooms Placed limitations on extracurricular, sports budgets and field trip travel Postponed major maintenance and upkeep projects No increase to local teacher pay scale in 6 years Implemented energy savings plans Tried to get as many grants as possible Purchased one bus in 8 years (average age of our buses is 16 years old) I am over 65. Will my taxes increase? No Tax bills on Over-65 or Disabled homesteads are frozen and will not go up unless the homeowner does significant improvements.
When and where can I vote on this?
Early voting is from Oct 19th to Oct. 30th at the Savoy ISD Administration building .
Regular voting is at The First Baptist Church Savoy on Nov. 3.
