Georgetown ISD Factoids

The Georgetown school district imposes the largest tax bite on citizens of any government entity operating in Georgetown. Here are some interesting facts.

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Even though the Georgetown population has been growing at a compound annual rate of 3.87% over the last five years, school enrollment has only increased by 527 students. Does this mean that most of the people moving into Georgetown do not have children? Hello Sun City!

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Fortunately, property taxes, although quite high, have  not been increasing much over the last five years.

GISD owes a significant amount of debt. P+I= $533,523,964 as of 6/30/16. Another surprising fact is that some of the debt consists of Capital Appreciation Bonds which were issued sometime in the past. Capital Appreciation Bonds require no annual payments over the term. The principal and interest are due in one lump sum at maturity.

GISD currently participates in the Teachers Retirement System (TRS) which is a defined benefit system. Under the TRS defined benefit plan, the unfunded liability is $62,908,381, of which GISD is liable for $20,750,875 at an assumed investment/discount rate of 8%. The state of Texas, read the taxpayers, are liable for the remaining unfunded liability. At a 7% investment/discount rate, the unfunded liability for GISD balloons to $32,230,684.