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GISD facts: TRE Swap & Drop

Greenville ISD voters have an important decision before them, and we encourage every voter to research the facts for themselves and make the decision they think is best.

The State of Texas has more than 1,000 school districts, and each one is unique. Some are shrinking and having to shut down schools. Some are managing fast growth and building schools like crazy to keep up with the booming enrollment. Fast-growth districts often have higher tax rates because of the bond debt that is used for construction and technology costs associated with building and equipping new schools. Many of those districts have an I&S tax rate at the 50-cent cap.
 
By contrast, Greenville ISD's I&S is 27 cents (.2685, to be exact). That's because we are experiencing steady growth, not explosive growth. 
 
Here are five important points, which are also illustrated in the charts below:
 
  1. Greenville ISD has one of the lowest tax rates in the state. Our total tax rate is $1.31 per $100 valuation. We regularly run comparisons, and Greenville ISD's tax rate is the lowest of 10 area districts, including Royse City, Caddo Mills, and Rockwall.
  2. Greenville ranks 8 out of 10 for starting teachers’ salaries. So our tax rate is the lowest among the 10 comparison districts, but our starting teachers' salaries rank higher. 
  3. Greenville ISD has not raised its M&O tax rate since 2007-08. It is $1.04, one of the lowest in the State of Texas.
  4. Since 2014, the GISD board has lowered the I&S tax rate and passed the savings along to GISD taxpayers 
  5. Since I&S funds can only be used to pay off district indebtedness, it is highly unlikely that GISD would have the need in the future to increase the I&S tax rate. Think of the I&S as mortgage debt that can only be used to pay off your house. You can’t buy your car, groceries, or clothes using your mortgage loan. The same restrictions apply to I&S funds. Since property values continue to steadily grow, the GISD continues to steadily pay off its bond indebtedness and will continue to do so in the future. Even if property values remain the same and there is no further growth, there would still be no need to raise the I&S tax rate. In fact, the I&S tax rate would continue to be lowered as the bond debt is paid off.