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 renovations and new facilities.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.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 required 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.Exactly how much is the proposed bond package?
The Board of Trustees called a bond election consisting of two propositions totaling $426 million to be brought before voters on May 5, 2018. Proposition A is for $235,000,000 and Proposition B is for $191,000,000.How was the bond package developed?
After much research and information gathering, KISD formed a citizen’s Bond Steering Committee to review and prioritize district needs relating to student population growth, building age, safety and conditions, and evolving educational deliveries and program needs. The Committee represented a broad cross section of the community. Upon completion of their analysis and prioritization of needs, members reached unanimous consensus on a recommendation to the Board of Trustees to call for a bond election for $426 million.What is included in the bond package?
The 2018 bond package is designed to address student enrollment growth, safety and security, campus equity, aging conditions and inefficiencies. Proposition A addresses district-wide accessibility, safety and security and proposes a new high school and elementary school be constructed for growth. Proposition B addresses existing district facilities through renovations and new school replacements. Visit the School Construction Projects page to learn more.How will the proposed bond election affect my taxes?
The estimated maximum tax impact of the total proposal would be 15 cents for a total I&S rate of 22 cents, and an overall total tax rate of $1.26. For the average KISD home value of approximately $143,000, this represents an increase of $14.75 per month.How do I calculate my personal tax impact for the bond package?
To calculate your personal tax impact from the total bond package, divide the taxable value of your property (less homestead exemptions) by 100. Then, multiply that number by .15 for the annual impact of the total bond proposal. Divide that by 12 for the monthly impact.What if I am over 65 years old? Will my taxes go up if the bond is successful?
No. If you have applied for and received the Age 65 Freeze on your homestead, by law, your school taxes cannot be raised above their frozen level.What if I am over 65 years old and receive the “Senior Citizen Exemption” and my home value goes up, will my taxes increase?
The appraised value can change and the tax rate will change, but the amount of school taxes on your homestead cannot increase. Normal repairs, maintenance and the economic impact of the market cannot increase the amount of taxes you will pay once a tax ceiling is in place on that homestead. Therefore, if this bond election is successful, it will not have an impact on the tax bill for homesteads that are receiving the senior citizen exemption, unless you make significant improvements to your home.Who is eligible to vote in this election?
Any registered voter who resides within the school district boundaries.How do I know if I’m registered to vote?
You can check on the state voter lookup site.Can I still register to vote in the election?
The deadline for voter registration is Thursday, April 5. If you are not registered to vote by this deadline, then you are not eligible to vote in this election. The Texas Voter Registration Application can be found online here, or applications can be picked up at any Post Office, Library, DPS location.After I have registered, when will I receive my Voter Registration Certificate?
You should receive a Voter Registration Certificate within 30 days. On Election Day, please bring your certificate to your local polling place if you have it. However, all that is required is a valid driver’s license. For more information about required ID, click here.Where can I vote?
Polling locations are listed on the Voting Info page.
It is planned for High School #6 to be built on district-owned property located within the City of Killeen on Chaparral Road, east of Featherline Road. It was purchased due to its ideal location in the south of our district, where KISD is experiencing most of its growth. See site image here.WHO WILL BE RESPONSIBLE FOR THE IMPROVEMENTS NEEDED TO CHAPARRAL ROAD? IS IT LOCATED OUTSIDE OF THE CITY?
The district owned property actually resides within the City of Killeen. The existing Chaparral Road frontage is currently a County road. The improvements of the existing infrastructure has been and will continue to be a topic of conversation amongst KISD, City of Killeen, City of Harker Heights and Bell County officials. All parties understand and value working collaboratively to ensure schools and surrounding areas are built with safety and efficiencies as a priority. Thus, these coordinated efforts will continue. The expansion of Chaparral project is currently on the Master thoroughfare plan, and alternative sources of funding are being sought, which will not impact the tax rate. All entities understand the importance of not burdening our constituents any more than necessary. The high school project will not be completed and ready to occupy until the 2022-2023 school year (4 years) from August 2018, at the earliest. The school district has participated in the provision of infrastructure improvements adjoining new schools sites in the past. Furthermore, while the improvements of Chaparral are ideal, Harker Heights High School was actually opened when 2410 was a two lane road. As a district, we are working to forward plan and our intention is to continue to work hard with our partners to provide the highest quality education possible to our students and community.What will happen with the consolidated campuses?
KISD will look to sell the school buildings of the campuses that are proposed to be consolidated with other campuses at new locations or explore utilizing them for future administrative use.How does the total property tax rate (for all taxing entities) for Killeen ISD residents compare to neighboring school districts, and how will it compare with the proposed tax increase from this bond?
Even within Killeen ISD, residents have varying total tax rates depending on the city, county, college district or other taxing entities they reside. Here are four different residences within Killeen ISD (highlighted in blue) to show how they compare to residences in Waco, Temple, Belton, Round Rock, Midway, Copperas Cove, Georgetown and Salado ISDs. The second graph shows how the same residences will compare with the proposed 15 cent increase from the May 2018 bond proposal.
Chief Financial Officer
Executive Director for Facilities Services