Tax Information
Cost Estimate of $367,000,000 Bond Proposal on Average Taxpayer
A school bond is similar to a home mortgage. It is a contract to repay borrowed money with a low-cost interest rate over time. Bonds are sold by a school district to competing lenders to raise funds to pay for the costs of construction, renovations, and equipment.
The estimated tax increase of this bond is $0.1125. For a home valued at $177,400, this represents an initial increase of $5.12 per month.
If approved by voters, the tax rate increase would be gradual with a $0.04 increase in 2013, $0.03 increase in 2014, and $.0425 increase in 2015. The maximum tax rate increase of $0.1125 would be in effect from 2015 for six years and then it will begin to decrease. At the maximum increase of $0.1125, a median homeowner would see a total of $172.72 increase.
Gross Taxable Value
| State Exemption
| Local Option 5%
| Net Taxable Value
| 2013
Per Month/ Total Annual
| 2014
Per Month/Total Annual
| 2015
Per Month/Total Annual | Max Increase Per Month/ Total Annual
|
| $177,400 | $15,000 | $8,870 | $153,530 | $5.12/$61.41 | $3.84/
$46.06 | $5.44/
$65.25 | $14.39/
$172.72 |
Rate Increase
| | | | $0.04 | $0.03 | $0.0425 | $0.1125 |
CCISD TAX RATE AND DEBT INFORMATION
League City, Texas- With more than 1,200 school districts in Texas, the Clear Creek Independent School District is the 28th largest based on student enrollment and ranks 25th based on authorized and issued debt. This 25th ranking also includes financial projections if the $367 million CCISD bond is approved by voters on May 11, 2013.
If the $367 million bond proposal is approved by voters, the District would gradually sell bonds at approximately $91.7 million per year for four years while simultaneously paying off $22.6 in existing debt per year. Based on this analysis, the highest level of debt the District will accrue is $865.2 million in 2017.
The total tax rate for the Clear Creek Independent School District is currently $1.36 per $100 valuation. This total includes $1.04 on the Maintenance & Operations Tax Rate and $0.32 on the Interest & Sinking (debt). Based on an analysis of the 51 school districts in Region IV, Clear Creek ISD is in the bottom-half when it comes to the total tax rate per $100 valuation. Region IV school districts include Harris County, Galveston County, Brazoria County, Fort Bend County, Liberty County, Waller County, and Chambers County.
The Clear Creek Independent School District is also considered a “Fast Growth School District,” these are Texas school districts who receive 90% of the 77,000 new students who enroll in a Texas public school annually. It is not uncommon for these school districts to seek voter authorization on school bonds to meet the needs of rapid enrollment growth. Based on the analysis of fast growth school districts in Texas, Clear Creek Independent School District Interest & Sinking Tax Rate is below the State average for a fast growth school district.