If I was in that ISD I'd have a problem with that. Just wait for the increase in appraisal $$. Don't go after your current taxpayer to pay for the future now. They will be hit soon enough. You know the future is coming. Just sit back and let it pay for the growth. Bad advice to the school board from someone. Bet they have a hard time next election.

That money is going to go into the rainy day fund vortex.

This will only get worse, not better, as needs increase. But remember, it's for the greater good of your community.

Last spring, before anyone knew about Terafab, the residents of Iola ISD voted for the tax increase to fund a new $59,000,000 high school. It was sold as a bond but they didn't hide that it would involve a higher tax rate.

Never mind that according to the district's own projections based upon a 4% growth per year over the next seven years, they projected approximately 10 additional high school students. Nevertheless 66% of the residents voted for the bond/higher tax rate.

With Terafab the current plan likely is already obsolete.
To account for additional growth with from the plant, the district might have to convert some of the excessive administrative offices into classrooms in the new high school.

"Apparently if Terafab is completed in 3 years, Terafab will pay approximately 92% of all Iola ISD revenue by itself, with the ISD's budget going from under 100 million to 1 billion a year."

The second part of your sentence doesn't correctly follow the first part. That's not how school finance works in Texas.

BuddysBud said:

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Last spring, before anyone knew about Terafab, the residents of Iola ISD voted for the tax increase to fund a new $59,000,000 high school. It was sold as a bond but they didn't hide that it would involve a higher tax rate.

Never mind that according to the district's own projections based upon a 4% growth per year over the next seven years, they projected approximately 10 additional high school students. Nevertheless 66% of the residents voted for the bond/higher tax rate.

With Terafab the current plan likely is already obsolete.
To account for additional growth with from the plant, the district might have to convert some of the excessive administrative offices into classrooms in the new high school.

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66% of the residents that VOTED.

Ducks4brkfast said:

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Won't recapture force them to just send the windfall to Austin?

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and it will probably wind up in the teacher's union and then in somebody's campaign PAC....

tu ag said:

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Moderation is night and day different on those two boards.

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Well I've never got banned over there other than accidentally posting a tweet with bad words in it. I get banned on this one more than any other. I got banned for a week on here and got a very serious warning about a pb. It was a bad joke and I probably shouldn't have posted it. I've never gone full Gary though. That's a premium inside joke and we had a laugh this week about it. Found out Gary is still on texags after getting pb-ed. Glad to hear. He's a character. He was #1 on blue stars at the time but he went out in a unique style after the Schloss betrayal. I never saw the post but it's legendary.

Yeah. This former is MUCH stricter and less predictable in moderation.
I used to moderate too...

How would it end up in "the teachers union?"

George Costanza said:

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How would it end up in "the teachers union?"

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see USAID folder....

Anderson also raised rates 13%. Anderson and Iola meetings occurred at the same time. Tell me it wasn't coordinated.

Do they usually meet at the same time?

reineraggie09 said:

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Anderson also raised rates 13%. Anderson and Iola meetings occurred at the same time. Tell me it wasn't coordinated.

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In 2024, Anderson-Shiro passed a $60M bond to build a new elementary school and remodel the old one to make a middle school. According to an AI response to my search, " the November 5, 2024 election, with final results confirmed after a recount showed a margin of 1,307 to 1,301 votes".

A six vote margin passed a bond that raised taxes by 0.23 per $100.

It is interesting that the district put this on the ballot with a presidential election. Too often districts intentionally pick an odd date for a special election to reduced voter turnout.

Note that this bond on the ballot with a presidential election had over 70% of registered voter participate, whereas the Iola bond election, which was held as a separate vote, only had about 20% participate.

https://grimescountytexas.gov/vertical/sites/%7B958238D0-27E6-4F6C-919E-F1D98542C5FD%7D/uploads/11.05.2024_OFFICIAL_Canvass_Results(1).pdf

Edit to add: Both Iola and Anderson districts passed these bonds before anyone knew about the SpaceX project.

TyHolden said:

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Ducks4brkfast said:

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Won't recapture force them to just send the windfall to Austin?

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and it will probably wind up in the teacher's union and then in somebody's campaign PAC....

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First Iola ISD will build a new FB stadium. New computers for every student. Maybe a second gym. Some new busses.

This is what schools in west Texas do. And I don't blame them one bit. Heck, put in a new track. New computer room. New band hall. Spend it all!!

At a minimum it's awful optics. But they did hold the meetings simultaneously. I may have been born at night but not last night.

Got a Natty! said:

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TyHolden said:

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Ducks4brkfast said:

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Won't recapture force them to just send the windfall to Austin?

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and it will probably wind up in the teacher's union and then in somebody's campaign PAC....

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First Iola ISD will build a new FB stadium. New computers for every student. Maybe a second gym. Some new busses.

This is what schools in west Texas do. And I don't blame them one bit. Heck, put in a new track. New computer room. New band hall. Spend it all!!

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They won't get to spend it all. Eagle Ford schools went through the same thing. From AI...

That does not mean Iola can never become subject to recapture. A major increase in taxable property valuesuch as from large industrial developmentcould affect the calculation, although the actual payment would depend on the district's property value, weighted enrollment, tax collections and state funding formulas. The latest TEA district-by-district reports are the best source for a current estimate. [url=https://tea.texas.gov/about-tea/state-funding/excess-local-revenue][/url]

https://tea.texas.gov/about-tea/state-funding/excess-local-revenue

"see USAID folder...."

So you have no idea and just made that up?