https://www.peoplenewspapers.com/2020/10/12/dallas-isd-puts-3-7-billion-bond-to-voters-in-november/

Well, here we go again. We voted ourselves 3 tax increases in 2018 and now they are floating this massive deal. Of note, you will be paying for 4 specific, black neighborhoods to get broadband internet, so I guess we have some reparations/welfare thrown in to boot.

Here is my main question. They are claiming there will be no tax increase with this which I'm certain is either a lie or simply temporary. Can someone explain below that's more in tune with how this works?

Quote:

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District staff explained that despite the required language on the ballot that says the bond is a tax increase, it won't increase property tax rates because the district's current interest and sinking rate of $0.2420 per $100 valuation will remain the same.

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YouBet said:

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https://www.peoplenewspapers.com/2020/10/12/dallas-isd-puts-3-7-billion-bond-to-voters-in-november/

Well, here we go again. We voted ourselves 3 tax increases in 2018 and now they are floating this massive deal. Of note, you will be paying for 4 specific, black neighborhoods to get broadband internet, so I guess we have some reparations/welfare thrown in to boot.

Here is my main question. They are claiming there will be no tax increase with this which I'm certain is either a lie or simply temporary. Can someone explain below that's more in tune with how this works?

Quote:

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District staff explained that despite the required language on the ballot that says the bond is a tax increase, it won't increase property tax rates because the district's current interest and sinking rate of $0.2420 per $100 valuation will remain the same.

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I don't live in Dallas County (Rockwall) but here is my take away from that blurb:

1. As debt/interest rolls off the books this backfills for that
2. Your property tax rate won't increase because appraisals have been raising over the last several years. They aren't asking to levy a 4% increase because the overall appraised value has been going up 8% (or whatever it is for Dallas).

Now, I will let someone who actually understands this explain it.

Makes sense on the surface. My fear for #1 is that like most things sold to us by government they will simply increase spending elsewhere going forward and have to raise rates to now account for this and other new spending.

They pass these things as if we live in a zero sum game in a snapshot of time.

YouBet said:

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Makes sense on the surface. My fear for #1 is that like most things sold to us by government they will simply increase spending elsewhere going forward and have to raise rates to now account for this and other new spending.

They pass these things as if we live in a zero sum game in a snapshot of time.

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Real estate like stonks never goes down. That is how this is done.

Bottlerocket said:

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Disd needs to be broken up into at least three districts

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Yes it does. When I wrote my friendly letter to Hinojosa on the whole Lakewood debacle, I specifically wrote we need defund DISD, and that he is clearly Over his skis in his ability to make the best decision for over 127 elementary schools.

I don't know anything specific about this one, but rolling bonds is a common strategy. Vote for a new one as funding an old one rolls off so you don't have change rates.

I voted against all 5 proposals today. It will get passed by an overwhelming majority I would assume.

I Have Spoken said:

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Taxes go up, just not the tax rate. It is absolute bullsheet, and I'm sick of ISDs making that argument.

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Unless your taxing entity LOWERS your tax rate, they are imposing a tax hike on you. When appraisal goes up, tax rate should go down.

Ol Jock 99 said:

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I don't know anything specific about this one, but rolling bonds is a common strategy. Vote for a new one as funding an old one rolls off so you don't have change rates.

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Municipal bond rates are at historic lows, so they have probably refunded older debt at lower rates. Then they issue new debt at low rates to maximize the proceeds to fit in their current I&S tax rate. Those are some really old facilities, so I'm not surprised the bill has come due.

StateofTexas said:

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Ol Jock 99 said:

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I don't know anything specific about this one, but rolling bonds is a common strategy. Vote for a new one as funding an old one rolls off so you don't have change rates.

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Municipal bond rates are at historic lows, so they have probably refunded older debt at lower rates. Then they issue new debt at low rates to maximize the proceeds to fit in their current I&S tax rate. Those are some really old facilities, so I'm not surprised the bill has come due.

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I'm not either, but I don't want to pay for it. DISD is 2/3 of my property tax already. I pay an insane amount of tax to them for no ROI.

YouBet said:

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StateofTexas said:

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Ol Jock 99 said:

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I don't know anything specific about this one, but rolling bonds is a common strategy. Vote for a new one as funding an old one rolls off so you don't have change rates.

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Municipal bond rates are at historic lows, so they have probably refunded older debt at lower rates. Then they issue new debt at low rates to maximize the proceeds to fit in their current I&S tax rate. Those are some really old facilities, so I'm not surprised the bill has come due.

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I'm not either, but I don't want to pay for it. DISD is 2/3 of my property tax already. I pay an insane amount of tax to them for no ROI.

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Bingo. Learn how to balance a check book.

YouBet said:

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StateofTexas said:

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Ol Jock 99 said:

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I don't know anything specific about this one, but rolling bonds is a common strategy. Vote for a new one as funding an old one rolls off so you don't have change rates.

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Municipal bond rates are at historic lows, so they have probably refunded older debt at lower rates. Then they issue new debt at low rates to maximize the proceeds to fit in their current I&S tax rate. Those are some really old facilities, so I'm not surprised the bill has come due.

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I'm not either, but I don't want to pay for it. DISD is 2/3 of my property tax already. I pay an insane amount of tax to them for no ROI.

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What level of ROI are you looking to get to? How do you want to measure this?

Do you feel letting the bonds roll off would increase your ROI? In what way?

culdeus said:

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YouBet said:

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StateofTexas said:

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Ol Jock 99 said:

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I don't know anything specific about this one, but rolling bonds is a common strategy. Vote for a new one as funding an old one rolls off so you don't have change rates.

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Municipal bond rates are at historic lows, so they have probably refunded older debt at lower rates. Then they issue new debt at low rates to maximize the proceeds to fit in their current I&S tax rate. Those are some really old facilities, so I'm not surprised the bill has come due.

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I'm not either, but I don't want to pay for it. DISD is 2/3 of my property tax already. I pay an insane amount of tax to them for no ROI.

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What level of ROI are you looking to get to? How do you want to measure this?

Do you feel letting the bonds roll off would increase your ROI? In what way?

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It's a philosophical ROI rather than an actual financial return. A decent school system that isn't indoctrinating future communists would have me ok with funding some bonds.

Also not a huge fan of using this as an end around to provide welfare to 4 specific areas of the city because they are black. It's racist bullsh^t.

YouBet said:

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culdeus said:

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YouBet said:

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StateofTexas said:

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Ol Jock 99 said:

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I don't know anything specific about this one, but rolling bonds is a common strategy. Vote for a new one as funding an old one rolls off so you don't have change rates.

---

Municipal bond rates are at historic lows, so they have probably refunded older debt at lower rates. Then they issue new debt at low rates to maximize the proceeds to fit in their current I&S tax rate. Those are some really old facilities, so I'm not surprised the bill has come due.

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I'm not either, but I don't want to pay for it. DISD is 2/3 of my property tax already. I pay an insane amount of tax to them for no ROI.

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What level of ROI are you looking to get to? How do you want to measure this?

Do you feel letting the bonds roll off would increase your ROI? In what way?

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It's a philosophical ROI rather than an actual financial return. A decent school system that isn't indoctrinating future communists would have me ok with funding some bonds.

Also not a huge fan of using this as an end around to provide welfare to 4 specific areas of the city because they are black. It's racist bullsh^t.

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One of the reasons we moved out of FW and to the burbs years ago, couldn't stand writing a check to FWISD that was just going to get pissed away (and that we would probably send our kids to private school on top of that). At least with Carroll ISD I feel like I am getting a return through property appreciation driven by being in the district (and the fact that my kids are hopefully getting a good education there).

Being in Tarrant I am still stuck subsidising JPS and TCC but it is what it is.

Unbelievable. Especially in the current economic situation. I am so glad I moved out to Grapevine

Captain Quagmire said:

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Unbelievable. Especially in the current economic situation. I am so glad I moved out to Grapevine

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Too many black people in grapevine? That's a new one. Can't imagine you would have dealt with grapevine 20 years ago ....

I think that he is saying that he moved to Grapevine from somewhere else.

Ag CPA said:

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I think that he is saying that he moved to Grapevine from somewhere else.

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You are correct. Apologies, I misread it as out of grapevine. Friday night postings make for fools. Grew up there so it hit me in the feels.

Just leave DISD

Bond passed.

53%/47% on Prop A.

Good job Dallas.

Pignorant said:

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Bond passed.

53%/47% on Prop A.

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much closer than i thought. Here go property taxes.

I thought I saw that multiple DISD bonds were losing earlier this morning. Could be wrong though; the ticker was moving pretty quickly.

double aught said:

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I thought I saw that multiple DISD bonds were losing earlier this morning. Could be wrong though; the ticker was moving pretty quickly.

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There were 5 propositions, the 3.7 billion one passed, the technology upgrade passed, the athletic field renovations failed, the fine arts bond failed, and the natatorium bond failed.

Basically, book learning education and facilitating that passed, but extracurricular failed.