HJISD Bond 2016

HJ RED LOGO
HARDIN-JEFFERSON INDEPENDENT SCHOOL DISTRICT
BOND 2016


Prop I

Prop II
 

Proposition I - Academic Renovations

Home Market Value

Estimated Maximum Annual Increase
Prop I

Estimated Maximum Monthly Increase
Prop I

$60,000

19.75

1.65

$100,000*

43.20

3.60

$150,000

72.52

6.04

$200,000

101.83

8.49

*Average home value in HJISD

 

 

 

Proposition II – Extra Curricular Renovations

Home Market Value

Estimated Maximum Annual Increase Prop II

Estimated Maximum Monthly Increase
Prop II

$60,000

6.41

0.53

$100,000*

14.02

1.17

$150,000

23.53

1.96

$200,000

33.04

2.75

*Average home value in HJISD

 

 

 

Combined – Both Propositions

Home Market Value

Est. Maximum Annual Increase Combined

Est. Maximum Monthly Increase Combined

$60,000

26.07

2.17

$100,000*

57.03

4.75

$150,000

95.72

7.98

$200,000

134.42

11.20

*Average home value in HJISD

 

 

BOND 004


BOND 2016
QUESTIONS AND ANSWERS


Why has the District called for a Bond Election?

HJISD has been engaged in a long-range strategic planning process since 2007.  Since that time, the District has conducted frequent full-scale evaluations of its facilities, sought community input, and worked to determine the best course of action for our future needs.  Based on the most recent review of our facilities, several needed improvements to mechanical, electrical, plumbing systems were identified.  In addition, flooring and paint improvements at SLE and HMS, as well as some extra-curricular improvements were noted.  The scope and cost of those improvements would require a school bond election.

If the voters approve the Bond, when would the improvements begin?

The improvements would begin during the summer on 2016 and likely continue through the summer of 2017.  The renovation of facilities that currently house students poses countless logistical hurdles, and scheduling will be a challenge.  The District will work to ensure the work does not negatively impact the safety, health, or academic progress of our students.


If voters approve the Bond, how will my taxes be affected?

The passage of both propositions would increase the I&S tax rate by $ 0.0815 based off of estimated future tax values.  If only Proposition I were passed, the increase to the I&S rate would be $0.0615.  If only Proposition II were passed, the increase to the I&S rate would be $0.020.   Please see the tax rate charts below to see how the bond would affect a homestead.

What will happen to my taxes if I’m 65 or older?

Senior citizens who are 65 years old or older, and who have filed for a “freeze” or “ceiling” to be placed on their homestead school taxes, will not be impacted by a tax rate increase. Seniors can contact the appraisal district in their county to receive the senior citizen exemption.  This provision is spelled out in the Texas Constitution, Article VII, Section 1-d.


What is the difference between the Maintenance & Operations (M&O) and Interest & Sinking (I&S) tax rates?

Property taxes are the primary source of local funds for public education. Districts adopt two tax rates each year, an M&O tax rate, which generates revenue that can be used for any legal purpose to operate the district’s schools (pay salaries, maintain buildings, purchases supplies, etc), and an I&S tax rate, if the district has debt. I&S taxes are levied in the form of a bond issue and are used to finance school construction.


Who sets appraised property values?

State law requires each county to establish a county appraisal district.  The Hardin County and Jefferson County Appraisal Districts and their boards have the authority to set and adjust property valuations.


How well does Hardin-Jefferson ISD manage its finances?

One of the top financial rating agencies—Moody’s Investors Service­—has rated Hardin-Jefferson ISD a rating of “AAA,” pursuant to the permanent school fund bond guaranty program, one of the best ratings available. This excellent rating is much like an individual’s credit score and allows the district to receive lower interest rates for its bond payments, which in turn saves money for taxpayers.

What are the district's debt management practices?

Periodically the taxpayers of Hardin-Jefferson ISD are asked to consider issuing bonds to improve educational facilities housing the students in the district. Essentially, a school bond functions in a similar way as an individual’s mortgage. We borrow money to construct or make major renovations to the District’s facilities.

Currently, the district owes $31,185,230 on a total of $71,081,436 of facilities.  The debt is comprised of construction costs for Hardin-Jefferson High School, China Elementary School, and the HJ Vocational Facility.  The additional proposed debt ($7,200,000) will be used to renovate and repair building infrastructure at Sour Lake Elementary and Henderson Middle School, extending their useful lives by 15 years.

In addition, Hardin-Jefferson ISD adheres to a debt management practice that structures its debt obligations to match the useful life of the assets that are purchased with bond funds. The debt obligations for buildings are typically repaid in 20-30 years while the building lasts 50+ years. The proposed renovations are estimated to last 15 years, and the debt obligation for the 2016 bond proposal is structured to match that useful life. Good debt is defined as investment debt that is used to build value.  The new construction completed as a part of the 2007 bond, and the proposed renovations in the 2016 bond, are investment in our students’ education and in the future of our community.

Will every campus benefit from the Bond Program?

No.  Most of the proposed bond will be designated to the renovation of Henderson Middle School and Sour Lake Elementary 


What is a school bond?

A bond is nothing more than a contract to repay borrowed money on a given date and to pay interest at a given rate, similar to a home mortgage. This type of long-term financing allows the district to pay for large costs related to facilities and other capital improvements that cannot be funded through the Maintenance and Operations side of the district’s budget. 


How does this Bond benefit individuals who do not have children in school?

Public schools are a vital part of any community. Today’s students will be tomorrow’s workforce, leaders and citizens. Providing and maintaining educational excellence builds a more vibrant community where people want to live and businesses want to operate.


Where can I get more information?

Call the Hardin-Jefferson administrative offices at: (409) 981-6400

Visit the HJISD web site at:  www.hjisd.net

Email questions or suggestion to:  bond@hjisd.net

Attend one of the Public Forums (see below)


Will there be a public forum?

The district will host a Public Forum to disseminate information and field questions about the upcoming Bond election.  The schedule is as follows:

April 7, 2016     6:00pm              HJISD Administration Building


Who can vote?

Any U.S. citizen who meets the following requirements is eligible to vote:

  • A resident of Hardin-Jefferson Independent School District
  • At least 18 years of age
  • Registered to vote at least 30 days prior to election day – April 7, 2016


When and where do I register to vote?

You must register to vote by April 7, 2016 to be eligible to vote in the May 7th Bond Election.  You may register in person at your County Clerk’s Office or you can obtain a voter registration application from local libraries, most post offices, or from the HJISD administration office.  You may also request a form by visiting www.sos.state.tx.us/elections/voter/reqvr.shtml       


Election Day

Saturday, May 7, 2016  7:00am - 7:00pm

JEFFERSON COUNTY

  • PCT #s 25, 26, 28, 66     China Elementary School – 605 Henderson Avenue, China
  • PCT #s 24, 91                Nome First Baptist Church Hall - 1985 Louisiana, Nome

HARDIN COUNTY

  • PCT #s 15, 17                Sour Lake Community Center – 300 S Ann St, Sour Lake
  • PCT #s 14                     Pinewood VFD – 333 Commercial St, Sour Lake (Pinewood)


Early Voting

April 25, 2016 – May 3, 2016   8:00am - 4:00pm

  • City Hall, City of Sour Lake – 625 Hwy 105, Sour Lake


To submit additional questions to be included in this document, please email them to bond@hjisd.net     

 

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