Voters in the Lake Travis Independent School District approved a $253 million bond referendum and Tax Ratification Election by large margins, measures that will help construct new schools and increase available revenue for the district.
“We are fortunate to live in a community where residents are passionate about and committed to supporting one of the state’s premier public school systems,” said LTISD Superintendent Dr. Brad Lancaster.
The bond measure passed 74.5 percent to 25.5 percent, with 4,319 and 1,482 votes, respectively. Proceeds from the bond will fund two new schools as well as upgrades and renovations among existing facilities. It will also add new school buses and pay for school bus seat belts, pay for technology expenses, and pay for land for future uses. According to LTISD, construction on the district’s third middle school will begin immediately, with completion expected by the fall of 2019. Construction for the district’s seventh middle school will begin in 2018 and be complete by fall of 2020.
The tax ratification passed 70.5 percent to 29.5 percent, with 4,066 and 1,699 votes, respectively. This allows the district to move two cents from its Interest and Sinking Fund portion of the tax rate to its Maintenance and Operation tax rate, effectively a “penny exchange” that allows approximately $2.1 million more to stay within the community.
Lancaster said it is important to note that the election results will not impact the total tax rate. “Our current total tax rate of $1.4075 per $100 of assessed property valuation is the same it has been since 2012. Please keep in mind, however, that although our local school district tax rate is unaffected as a result of these elections, an increase in property value will inevitably result in an increase in a homeowner’s tax bill.”