Austin Local News
AISD to finalize proposal to borrow hundreds of millions from you
(image courtesy AISD)
Austin Independent School District trustees should finalize their proposal to borrow just under a billion dollars from you for a laundry list of upgrades to schools throughout the city. Bond Watchdog Roger Falk of the Travis County Taxpayers Union says schools don’t get to borrow money for free, so be leery of what AISD says the tax impact of this would be. "We estimate that that bond that's shy of a billion dollars to cost taxpayers about six and a half cents per hundred thousand dollar valuation." He continues "It will go up by about $65 per year. By Falk’s estimate, taxes on a three hundred thousand dollar home would go up $195 if the bond passes.
AISD has said there would be little to no impact on the tax rate but Falk says that doesn't matter because your property appraisal values will undoubtedly go up no matter what the tax rate is on the loan they're asking for. "Which gives political cover for our leadership out here to claim they're cutting taxes when in fact they are actually raising it." Falk says the district could do what it needs to for a lot less than they’re proposing.