Victoria I.S.D. bond planning task force projects $146.2 million needed to repair facilities

Victoria I.S.D. bond planning task force projects $146.2 million needed to repair facilities

VICTORIA, Texas – The Victoria I.S.D. Bond Planning Task Force met Monday night.

Greg Bonewald, Deputy Assistant Superintendent for the Victoria I.S.D., shared tax rate comparisons to other similarly-sized districts, as well as what a bond would look like with a lowered I&S tax rate and a 21-year history of the district’s tax rate.

“A common theme that we have seen is a misunderstanding that the VISD tax rate is higher than it has ever been,” Bonewald said. “And in actuality, the VISD tax rate is at its lowest point in the last 21 years.”

The tax rate for the district was the highest between 2002 and 2006 and then took a dip after 2006 after a move by the Texas State Legislature to compress the tax rate by placing a cap on rates.

City manager Jesús Garza commented saying something similar was done with the city tax rate.

“We did a very similar exercise with the city where we ran a scenario and said, ‘Had we not dropped the rate, where would we be now?’ simply to show everybody that these decisions make a long-term impact on finances,” Garza said.

Bonewald then moved on to share project cost estimates for repairs needed across the district with total costs reaching $146.2 million dollars.

On the elementary school level, Hopkins Elementary School and DeLeon Elementary School had the highest projected costs at around $7 million each and on the secondary level, Stroman Middle School projected costs totaled $26 million dollars.

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