The planning for the May 2015 bond election was a multi-year process and involved many levels of information gathering, research and community input. MISD’s last bond election was in 2007. In 2010, a previous facility planning committee studied district needs and recommended a series of two bond elections totaling $300 million in capital improvements. However, the school district did not move forward with a bond election at that time. Since then, the district has grown by over 1,000 students and continues to grow.
In response to this rapid student enrollment growth and major capital improvement needs, in early 2013, the Montgomery ISD Board of Trustees directed the MISD Administration to initiate a plan to address facility concerns. At that time, a Long Range Facility Planning initiative began and encompassed many phases including a demographic study, selection of an architect, a district-wide existing facility assessment, financial analysis, land acquisition, study of grade level reconfiguration and appointment of a Community Advisory Board.
The Community Advisory Board, made up of local citizens, civic and business leaders, parents and school staff, met for six months to study and prioritize district needs. They studied the existing facility assessment, enrollment projections, results from a community survey, district financial information and tax impact scenarios. They examined many different facility solutions and project costs, including the need for new facilities, safety, technology and updates to existing campuses. Upon completion of the CAB’s analysis, a recommendation was presented to the Board of Trustees.
After careful consideration of the CAB’s recommendations and additional prioritization, the MISD Board of Trustees officially called a bond referendum on February 17, 2015 to be held on May 9, 2015.
The May 2015 bond package allows for the construction of new schools to alleviate and prevent overcrowding in our schools. It includes upgrades and improvements to all existing schools in the district, including safety and security and new and expanded technology. In addition, it allows for a grade realignment to move the fifth grade to the elementary level and the sixth grade in with seventh and eighth grade to form the new middle school level.
Safety & Security at all Campuses: $7,000,000
Existing Facility Renovations, Additions and Improvements: $35,750,000
Technology & Transportation: $9,000,000
TOTAL BOND PROPOSAL: $256,750,000
MAP OF EXISTING
& PROPOSED FACILITIES
Montgomery ISD's Historical Tax Rates
How Does Montgomery ISD Compare?
Tax Rate ($/100)
New Caney ISD
Public school taxes involve two components: Maintenance and Operations (M&O), used to pay for salaries, utilities, furniture, supplies, food, gas, etc.; and Interest and Sinking (I&S), used to repay debt. Bond elections affect the I&S tax rate.
Currently, Montgomery ISD’s I&S tax rate, is $0.30. When combined with the district’s M&O tax rate of $1.04, the total tax rate for MISD is $1.34 per $100 of certified property value. The Montgomery ISD Board of Trustees has reduced the property tax rate on three separate occasions in the last 10 years totaling .32 cents from $1.66 in 2005-2006 to $1.34 in 2014-15.
Estimated Tax Impact
The estimated maximum tax impact of the May 2015 bond package is anticipated to be an incremental increase over a three year period of five cents to the I&S portion, resulting in a total tax rate of $1.39. For an average home value of approximately $200,000, this represents an increase of approximately $7.71 per month.
The chart below illustrates the estimated monthly tax increase to property owners in Montgomery ISD from the passage of the May 9, 2015 election:
Home Value (assumes $15,000
Estimated Monthly Tax Increase
Montgomery ISD Monthly Tax Impact
To look up your home value, visit the Montgomery Central Appraisal District website.
State Law allows for school building bonds to mature over a period up to forty years. The budget and estimated tax rate impact for this bond was built on the assumption that the bond will be repaid over a 30-year period and are structured to allow the District to prepay the bonds prior to scheduled maturity, without penalty. Furthermore, the bonds will be sold in phases, and short-term bonds that are repaid in five to ten years will be utilized to fund the technology projects and bus purchases within the bond proposal.
Impact on Senior Citizens' Property Taxes
Under state law, the dollar amount of school taxes imposed on the residence homestead of a person 65 years of age or older who has filed an exemption application, may not be increased above the amount paid in the first year after the person turned 65, regardless of changes in tax rate or property value. This excludes the value of any new improvements, such as additions or renovations that increase the value of such homestead.
Contact the Montgomery Central Appraisal District with questions about the Over 65 Homestead Exemption. To download a copy of the Homestead Exemption form, click here.
©2015 Montgomery ISD