10/27/2023
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๐ฎ๐ ๐๐ผ๐ป๐ฑ ๐๐ฎ๐๐๐น๐ฒ๐: ๐จ๐ป๐ฝ๐ฎ๐ฐ๐ธ๐ถ๐ป๐ด ๐๐ต๐ฒ ๐๐บ๐ฝ๐ฎ๐ฐ๐ ๐ผ๐ป ๐ฌ๐ผ๐๐ฟ ๐ช๐ฎ๐น๐น๐ฒ๐
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.
๐ฐ ๐ง๐ต๐ฒ ๐๐ผ๐ป๐ฑ ๐๐พ๐๐ฎ๐๐ถ๐ผ๐ป: 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.
๐ ๐ง๐ฟ๐ฎ๐ป๐๐ฝ๐ฎ๐ฟ๐ฒ๐ป๐ฐ๐ ๐ ๐ฎ๐๐๐ฒ๐ฟ๐: 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!
๐๏ธ ๐ง๐ต๐ฒ ๐๐ผ๐ป๐ฒ ๐ฆ๐๐ฎ๐ฟ ๐๐๐ฟ๐ฑ๐ฒ๐ป: 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.
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๐ง๐ฎ๐น๐ธ: 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.
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๐ ๐ฎ๐ฟ๐ธ ๐ฌ๐ผ๐๐ฟ ๐๐ฎ๐น๐ฒ๐ป๐ฑ๐ฎ๐ฟ: 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 nationโs 10 most populous states.