frequently asked Questions
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 investors 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.
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 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.
4. Exactly how much is the proposed bond package?
The Board of Trustees called a bond election in the amount of $51 million to be brought before voters on November 7, 2017.
5. How was the bond package developed?
The Aubrey ISD Facilities Planning Committee reviewed and prioritized potential projects 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, including parents, community constituents, and campus and district staff. The committee met five times and made a recommendation to the Board of Trustees on Wednesday, August 9, 2017.
6. How will the proposed bond election affect my taxes?
If voters approve the bond election, the estimated tax impact of this bond is anticipated to be 16 cents for a total tax rate of $1.67. The tax rate would increase by 8 cents in 2018 and 2019 for a total increase of 16 cents. This represents an increase of approximately $23.34 per month on a home valued at $200,000.
7. How do I calculate my personal tax impact for the bond package?
To calculate your personal tax impact from the bond package, divide the taxable value of your property (less homestead exemptions) by 100. Then, multiply that number by .16 for the annual impact of the total
8. 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, school taxes on your homestead cannot be raised above their frozen level.
9. 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.
10. Who is eligible to vote in this election?
Any registered voter that resides within the Aubrey ISD boundaries.
11. Can I still register to vote in the election?
The deadline for voter registration is October 10, 2017. 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 or DPS location.
12. After I have registered, when will I receive my Voter
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.
13. When will the new elementary school open, where will
it be located and who will go there?
The new elementary school is anticipated to open in Fall 2019. The District is reviewing options for the school’s location. If approved, the District will work with a professional demographer to assess the student population and develop a plan for attendance.
14. How will the classrooms additions be split between
Brockett and Monaco Elementary?
The initial plan is for six additions at Monaco Elementary and four additions at Brockett Elementary. However, this may change depending on design restrictions and local building codes.
Have a question about the November 2017 Bond Election?
frequently asked questions
Election Day: November 7, 2017 | Early Voting: October 23 – November 3, 2017 | Register to vote by October 10, 2017
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