Visioning for New Elementary School in Full Swing
The design team is working with staff to and the administration to develop the "vision" for the new elementary school. As education continues to evolve and the District's demographics continue to change, LISD is looking for opportunities to engage our students and make teaching more creative and improve learning. Rather than focusing on the "sticks & bricks", we are focusing on the learning spaces and their relationships. A copy of the Board update on "visioning" presented on November 24 can be found on the New Elementary School Project Update.
Board Approves LHS Schematic Design
At the October 27, 2014 meeting of the Board of Trustees, members were presented with and approved the final Schematic Design for the additions and renovations to Lockhart High School. The design and construction team also provided a phasing plan. The plan provides for final completion in time for the 2017-2018 school year. A copy of the presentation can be accessed through the following link.
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|