|Ballot proposition||The issuance of $8,200,000 of bonds by the Northwest Independent School District for renovations to the track and field complex (Texas Stadium) and Northwest ISD Stadium and levying the tax in payment thereof. This is a property tax increase.
La emisión de $8,200,000 en bonos por parte del distrito escolar independiente de Northwest para renovaciones al complejo de campo y pista de atletismo (Texan Stadium), y la imposición del impuesto para el pago de estos. Esto es un aumento al impuesto predial.
|If I vote FOR||The school district will issue $8,200,000 in bonds to fund stadium renovations.|
|If I vote AGAINST||The school district will not issue $8,200,000 in bonds.|
|Tax consequences||According to the district, Proposition B will not change the tax rate. Although a new state law includes standard “this is a property tax increase” language on all school bonds, “NISD can make all existing and new bond payments with the $0.42 I&S tax rate residents are currently paying.”|
|What is a bond?||A bond is essentially an IOU. Instead of going to a bank to get a loan, like an individual might do, governments can issue bonds to raise money for specific projects. An investor buys a bond on the understanding that they will be paid back, in full and with interest, on a set date (limited by law to 40 years). In most cases, governments must seek voter approval to issue a bond.|
|What projects would be funded by the bond?||Proposition B would fund renovations to Texan Stadium’s track and field complex (originally built in 1950) and replace lighting at Northwest ISD Stadium.
Taken together, Propositions A-D would raise $745.7 million to cover a range of projects. The bond is designed to accommodate nearly 5,000 additional students with new schools and replacement buildings, while addressing aging facilities, safety, equity, and standardization across the district.
For more detailed information, see https://www.nisdtxbond.org/bond-proposal.
|Background||In November 2020, Northwest ISD put four bond propositions before the voters, along with a Voter-Approval Tax Rate Election (VATRE) proposition; all five of these propositions failed to pass.
Beginning in December 2020, Northwest ISD sought feedback from the community and to reevaluate the bond proposals. After consultation with a longstanding citizens group, studying results from a post-election survey, and getting stakeholder feedback to reprioritize projects, the Board of Trustees put forward the current set of four propositions totaling $745.7 million, an approximately $240 million reduction from the November 2020 ballot. For more detailed background information, see https://www.nisdtxbond.org/background.
Northwest ISD’s current Maintenance & Operations (M&O) Tax Rate is $0.9163 and its Interest & Sinking (I&S) Tax Rate is $0.42, for a total tax rate of $1.3363. The current bond propositions are not expected to raise this tax rate. For more detailed tax information, see https://www.nisdtxbond.org/tax-info.
|Resources||Contact Northwest ISD via https://www.nisdtxbond.org/questions (website form)
“May 1, 2021 Bond Election” link: https://www.nisdtxbond.org (includes descriptions of bond projects as well as links to tax information, FAQs, and other bond program documents)
|Recent news articles||Northwest ISD’s $745 million question,” Community Impact Newspaper (Mar 25, 2021) https://communityimpact.com/dallas-fort-worth/keller-roanoke-northeast-fort-worth/education/2021/03/25/northwest-isds-745-million-question/
“Voters soundly reject nearly $1 billion bond package in Northwest ISD,” The Texan (Nov 5, 2020) https://thetexan.news/voters-soundly-reject-nearly-1-billion-bond-package-in-northwest-isd/ (paywall - article limit)