Lockhart High School Additions Progressing Well
The image above illustrates the progress that has been made at Lockhart High School to date. The additions to the front of the campus are taking shape and the foundation for the new Career and Technology/Ag wing is complete. The additions to the Field House are also generally complete. You can also see the new parking and traffic drives at the front of the campus.
Alma Brewer Strawn Elementary School Taking Shape
The block walls are generally complete. Exterior masonry and stone work is underway. Structural steel continues. Roofing is ongoing. On the interior, metal stud walls are being installed. HVAC ductwork is being installed. Electrical and plumbing rough-in is also underway.
Renderings Bring Lockhart High School to Life
The renderings below illustrate interior and exterior spaces that will be part of the completed additions and renovations to Lockhart High School.
LISD Receives PSF Certificate
Through the Bond Guarantee Program, the Texas Permanent School Fund is pledged to guarantee bonds issued by Texas school districts thus enhancing their credit rating. Bonds issued under the Bond Guarantee Program are rated AAA, thus allowing participating school districts to borrow at a lower cost. Lockhart ISD recently received its certificate. This guaranteed enabled LISD to sell bonds at a much lower interest rate than planned. As a result, the tax impact is also lower. Please refer to the related headline below.
Board Adopts Lower Tax Rate than Projected
Prior to the bond election, the District projected the interest rates on the bonds at 4.38%. Based on that assumed rate, the maximum tax rate increase was estimated at $0.3228/$100 in taxable value. The District was able to actually issue the bonds at an average interest rate of 3.859%. As a result, the Board adopted an increase of $0.2496/$100 in taxable value. This means the monthly impact to the average home value in Lockhart ISD of $89,793 will be $18.68/mo rather than the $24.15/mo projected. The chart below reflects the revised monthly impact to various home values based on actual average interest rate on the bonds.
|Net Taxable Value After Exemptions||$50,000||$75,000||$89,793||$100,000||$150,000||$200,000|
|Maximum Estimated Monthly Tax Increase||$10.40||$15.60||$18.68||$20.80||$31.20||$41.60|