www.GCISD.net/VATRE
100% OF FUNDS STAY IN GCISD
VOTE EARLY OCT 21 - NOV 1 ELECTION DAY NOV 5 AND OLDER If the VATRE is approved by voters, it will not impact the taxes of a homeowner with an Over-65 Exemption. The overall tax rate is 47.3 cents less than it was in 2018, which equates to $90 million of taxpayer relief . This is the lowest overall tax rate in GCISD in more than 25 years . estimated 22 percent ($31.33 million) of GCISD’s M&O tax levy will be sent back to the state in the form of recapture for 2023-2024. SAVINGS The increase will be made of “golden pennies.” Tax funds collected through these pennies are not subject to recapture, meaning 100 percent of these funds remain in GCISD. This is unlike other portions of the M&O tax rate, which are subject to recapture (required by state law). Recapture removes local property tax dollars from public school districts. An
The Voter-Approved Tax Ratification Election (VATRE) will ask Grapevine-Colleyville ISD voters to consider ratifying the overall tax rate of $0.9233, which includes an increase to the Maintenance and Operations (M&O) tax rate and a reduction to the Interest & Sinking (I&S) tax rate. This would generate nearly $6 million in funding for: Teachers and staff Instruction and student programs Daily operating expenses (utilities, maintenance, supplies) WHAT IS A VATRE?
LOWER OVERALL TAX RATE The school district tax rate is made up of two parts: Maintenance & Operations (M&O) and Interest & Sinking (I&S)
Total
$0.9233
*The GCISD Board of Trustees lowered the I&S tax rate, while the M&O tax rate will increase with the passage of the VATRE. The new overall tax rate is $0.9233, which is $0.0014 lower than 2023.
Maintenance & Operations funds employee compensation and day-to-day operations.
Interest & Sinking funds are strictly used to pay off voter-approved bond debt.
The Texas Tax Code provides mandatory ballot language, but what does it mean? The TOTAL tax rate of $0.9233 is $0.0014 less than the previous year. The increase of 1.08% references the increase to ONLY the M&O rate (from $0.7290 in 2023 to $0.7369 in 2024) $1,513,042 represents the difference in the tax collections from the $0.7290 M&O rate to $0.7369. UNDERSTANDING THE BALLOT
Proposition A Ratifying the ad valorem tax rate of $0.9233 per $100 valuation in the Grapevine-Colleyville Independent School District for the current year, a rate that will result in an increase of 1.08% percent in maintenance and operations tax revenue for the district for the current year as compared to the preceding year, which is an additional $1,513,042 .
For Against
If the VATRE fails, the district’s M&O tax rate will be $0.7069 rather than $0.7369, resulting in nearly $6 million less in revenue for GCISD. Content provided by Grapevine-Colleyville ISD
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