10/27/2023
𝗧𝗲𝘅𝗮𝘀 𝗕𝗼𝗻𝗱 𝗕𝗮𝘁𝘁𝗹𝗲𝘀: 𝗨𝗻𝗽𝗮𝗰𝗸𝗶𝗻𝗴 𝘁𝗵𝗲 𝗜𝗺𝗽𝗮𝗰𝘁 𝗼𝗻 𝗬𝗼𝘂𝗿 𝗪𝗮𝗹𝗹𝗲𝘁
It's that time of the year again when cities, counties, and school districts are putting some hefty bond proposals on the November ballot. Including Joshua ISD Bond asking for $107 million. And, yes, you guessed it, this could lead to an even heavier financial "bo***ge" for all of us, with an existing $129 million in outstanding debt for Joshua ISD and a total of $186 billion in debt for the state.
💰 𝗧𝗵𝗲 𝗕𝗼𝗻𝗱 𝗘𝗾𝘂𝗮𝘁𝗶𝗼𝗻: Each bond may seem like a lifeline for development, but it comes with a price tag. All bonds must be repaid with interest, and guess what? They translate into property tax increases. It's essential to be aware of what these bonds mean for your wallet.
📜 𝗧𝗿𝗮𝗻𝘀𝗽𝗮𝗿𝗲𝗻𝗰𝘆 𝗠𝗮𝘁𝘁𝗲𝗿𝘀: Thanks to a law passed in 2019, school bond propositions now explicitly state "THIS IS A PROPERTY TAX INCREASE." School districts also have to provide a voter information document that spells out the full financial picture, showcasing the cost of proposed bonds and current debt. Transparency is key!
🏛️ 𝗧𝗵𝗲 𝗟𝗼𝗻𝗲 𝗦𝘁𝗮𝗿 𝗕𝘂𝗿𝗱𝗲𝗻: Texas ranks third in the United States for local debt per capita. Most of this tax-supported debt is shouldered by school districts. Our future generations deserve quality education, but let's make sure it's sustainable.
📈 𝗧𝗮𝘅 𝗧𝗮𝗹𝗸: Beyond bonds, over two dozen local governments are pushing for tax hikes that surpass the limits set by state law. It's time to understand how these fiscal decisions could impact our day-to-day lives.
📅 𝗠𝗮𝗿𝗸 𝗬𝗼𝘂𝗿 𝗖𝗮𝗹𝗲𝗻𝗱𝗮𝗿: Early voting kicks off on October 23, and Election Day is on November 7. This is your chance to have a say in shaping our financial future.
Before you head to the polls, take a moment to educate yourself on the issues at hand. In addition to the Joshua ISD bond, there are also 14 proposed amendments to the state constitution on the ballot. Make your vote count, and let's ensure our financial well-being aligns with our values.
Texas has the third-highest local debt per capita among the nation’s 10 most populous states.