In 2006, Pearland voters approved school bonds totaling approximately $115.6 million to build new schools, fund technologies upgrades and implement campus-wide improvements. Pearland Independent School District (PISD) Board of Trustees approved issuance of the last of the voter-approved bonds of roughly $35 million at a meeting held Tuesday (July 22).
Ryan O’Hara, Financial Advisor for BOSC Inc., told trustees based on projections of one to two percent growth in property values, the move would have minimal to no effect on the tax rate.
“We’re estimating that there could be an impact of less than a penny. If there’s even more growth we may be able to keep that same tax rate,” O’Hara said.
Superintendent John Kelly said district officials were working on projections that showed even with the increased debt the tax rate would be the same or perhaps less than last year.
“We’ve only assuming a two percent valuation growth,” O’Hara said. “I do think this is conservative.”
The current PISD tax rate is $1.4157 per $100 of property valuation. Based on last year’s median taxable home value of $153,950, the average homeowner’s PISD taxes totaled roughly $2,179.47 according to Brazoria County tax records.
The 2006 bond election included funding of $63.7 million to build Dawson High School, $11.6 million to convert the Bailey Road facility to create Turner High School, $10.6 million for district-wide facility improvements, $2.5 million for technology upgrades and $27.2 million for two new elementary school campuses. (All projects are complete except the two elementary schools according to information posted on the Pearland ISD website.)
Trustees did not discuss how the money would be used. Administrators are expected to bring recommendations to the board at a future meeting.
The measure was approved unanimously. Trustee Andrew Solomon was absent.
Source: The Pearland Journal