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Bond Overview
Bond Props
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Attendance Credit Election
Chapter 49 – Recapture: Robin Hood Law
SMCISD voters will be asked to consider authorizing the SMCISD Board of Trustees to purchase attendance credits from the state with local tax revenue. Voters are being asked to consider this item as SMCISD’s property values have reached a point where the district has entered into recapture. State law requires an Attendance Credit Election – also known as a Chapter 49 Election – for voters to approve the process by which the school district makes these mandatory recapture payments.
VOTING "FOR"
If Prop A passes, the school district would continue to make mandatory recapture payments to the state and there will be NO tax rate increase.
VOTING "AGAINST"
If Prop A fails, the school district would be subject to a “Detachment of Territory,” which means the state will detach a portion of the school district’s total property value.
Prop A failure means SMCISD would need to RAISE the interest & sinking (I&S) tax rate to pay existing debt with a smaller tax base after some territory is detached.
More information regading the Attendance Credit Election: https://www.smcisd.net/Page/5669.
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Project Summary
- Additional Safety Cameras
- New School Buses
- Campus Safety Renovations
- First Responder Communication
- SMHS Classroom Additions
- Installment of new AC units
- Mendez Elementary Replacement
- Fine Arts Additions & Renovations
- Digital Marquees
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Artificial Turf Replacements at San Marcos High School
- Safe foundation for our students who perform and compete in our stadium
- Stadium built in 2015
- Artificial turf life expectancy is 8-10yrs.
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Natatorium
With our community centered around the San Marcos River, water safety is of utmost importance. A district natatorium would provide the following:
- A practice facility for the SMHS swim team
- A facility where SMCISD students would receive water safety instruction/certifications in a controlled environment
Tax Information
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Since 2012, SMCISD has been able to Refinance over $192.6 Million and save over an estimated $20.9 Million by lowering the interest rate on existing voter approved I&S Bond Debt. Also, during this time the District has been able to Cash Defease with available funds an estimated $14.6 Million of outstanding Bond Debt and save the District an estimated $4.8 Million by paying off existing voter approved I&S Bond Debt early.
If the 2023 Bond passes, the total tax rate is estimated to see a maximum increase of one cent. The one-cent increase will differ depending on the value of your home. For example, the average home in San Marcos is $350,000. The chart below reflects what the one-cent increase would look like, annually and monthly.
$350K Home
Annual Increase = $31.00
Monthly Increase = $2.58
Homestead Exemption
The annual/monthly increase includes the $40K Homestead exemption. Homeowners who are 65 years of age or older and homeowners that are disabled will not see an increase in school taxes on their homestead (at age 65 or upon occurrence of the disability), including taxes to pay for the 2023 Bonds, as long as they have filed for their homestead exemption and the value of their home at the time the exception is granted does not increase in value. Texas law provides for the freezing of the total ad valorem taxes imposed on homes of persons 65 years of age or older or disabled persons for general elementary and secondary school purposes.
Voting Information
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Early voting for the May 6 election will take place between April 24-May 2 for SMCISD voters in Hays, Caldwell, and Guadalupe counties. Election Day is May 6.
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