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The Marble Falls Independent School Board of Trustees approved a $172.2 million bond election during a special called meeting Friday, Jan. 31. The issue will be on the May 3 ballot for Marble Falls voters.

If approved, the bond will fund new facilities and building renovations, new buses and bus maintenance, and safety and technology equipment to accommodate student population growth across the district. 

The bond would not increase the tax rate for residents, MFISD leaders said.

The May ballot item differs from the district’s failed tax rate increase last November, which would have funded staffing and student programs.

WHAT’S ON THE BALLOT?

Voters will decide on each proposition separately. 

Proposition A, $131.4 million

  • Construction, acquisition, and equipment of school buildings, including rehabilitations, renovations, expansions, and improvements.
  • Purchase of land for future school sites.
  • Purchase of new school buses and retrofitting current ones for safety and security.
  • Upgrades to emergency and security vehicles.

Proposition B, $2.2 million

  • Acquisition, improvement, and upgrading of districtwide technology systems, including infrastructure and equipment.

Proposition C, $12.5 million

  • Construction, acquisition, and equipment of athletic facilities, including renovations, expansions, and improvements.

Proposition D, $26.05 million

  • Construction, acquisition, and equipment of a new multi-purpose facility.

While ballots will state under each proposition that “THIS IS A PROPERTY TAX INCREASE,” district officials stress that the bond will require no property tax increase.

“The language on the ballot is due to a legal requirement,” MFISD Board of Trustees President Kevin Naumann told DailyTrib.com.

If voters approve the bond, MFISD would pay for them using its current Interest and Sinking (I&S) tax rate of 21.53 cents per $100 property valuation. Superintendent Dr. Jeff Gasaway explained this to the board and community.

“If all four propositions pass, the tax rate will be 21.53 (cents) from I&S. If all four propositions fail, the tax rate will still be 21.53 (cents),” Gasaway said.

This means voters are not deciding on a tax increase but on how to allocate the district’s existing debt capacity.

MFISD’s overall tax rate is 88.8 cents per $100 property valuation, which is a combination of the Maintenance and Operations (M&O) rate of 67.25 cents and the I&S rate of 21.53 cents. The I&S rate can only be used to pay back debt on capital projects, like the propositions for the bond election. The M&O rate can only be used for maintenance and operations, like paying staff salaries and day-to-day costs.

According to the board, MFISD can bear up to $209 million in bonds with no increase to the tax rate. The $172.2 million that was recommended would not require the district to increase the I&S rate.

The bond proposal was shaped by a need for long-term planning as the district experiences rapid growth.

According to the board, the Spicewood Elementary campus enrollment has surged due to the expansion of new developments and apartment complexes. Future developments, such as the planned 3,500-home Thomas Ranch project, will likely push student numbers even higher.

“We’ve looked at these projects with a long-term vision of 30 years down the road,” Naumann said. “Many of these projects position us, as Dr. Gasaway says, as the ‘district of destination.’ We want people to look at Marble Falls ISD and say, ‘I want to go to that school district. Not only will it be functional, but also inspiring: a place the rest of the world looks to as an example. I’m excited for our community and for what these projects will accomplish.”

elizabeth@thepicayune.com

1 thought on “MFISD approves $172M bond election; no tax rate increase

  1. The marble falls board of trustees are disingenuous when they state this bond will require no property tax increase. While the tax rate will not increase, the dollars you pay in MF ISD taxes WILL increase if your property appraisal has increased, which nearly all property owners have experienced.

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