Georgetown ISD Plans More Debt

Georgetown ISD has developed a plan and advocacy to impose more debt on the school taxpayers. They are advocating for $166M in new debt, $150.5M for new schools, buses and refurbishment of existing buildings, and $15.5M for a swim facility. 

The GISD management says that tax rates will be held constant, but, property taxes will increase because the appraised value of homes and businesses are increasing at a 6% annual rate. However, the debt payment on existing debt has been increasing at a 10.7% annual rate.

So additional debt and debt service is to be added and the tax rate can remain constant? If so, I have a bridge in Brooklyn to sell the GISD!

The justification for this debt binge is the growth in student enrollment. Let's examine the historical student growth rate in GISD.

Notice that over the past 6 years, a "high growth" period, the annual growth rate is just over 2%. The District management consistently over estimates the student growth. For instance, they predict student enrollment of 13,800 in 2022 and 16,900 in 2027. Where as a projection at the historical rate would yield approximately 12,500 in 2022 and 13, 875 in 2027.

There has been no rationale or information presented that would justify a large increase in student enrollment rate over that experienced the last 6 years.

So is the need for this additional bond money premature? The voters must decide, but, they need all the relevant facts presented to them!