Patton PTA Updates
October 21, 2022
What's in this week's newsletter?
What a treat to see so many people celebrating Diwali last night! There are so many more opportunities to be involved in our Patton Community!
Spotlight: Austin ISD bond details....What's the financial impact?
Coming Up Soon:
- Oct. 27: Parent Workshop
- Nov. 2: Spirit Night at Epic Fun
Additional information in this newsletter:
- Can you make 5 phone calls? Final push for Silent Auction
- AISD school board candidate forum: Oct. 23
- Submit your photos for yearbook
- Patton PTA Sponsors 2022-2023
- Save the Dates! PTA Meeting, Once Upon a Child, Kendra Scott and Texas Stars Give Backs
Spotlight: Austin ISD Bond
Last week, we shared some initial information about the $2.44 billion Austin ISD Bond package for voters this November. In our second edition, we are breaking down the financial impact, both to homeowners/ taxpayers and to the district.
What’s the financial impact to homeowners/ taxpayers?
I think everyone in the Austin area is well aware of the impact of rising property values and property taxes. So….what’s the financial impact of this proposed bond you ask? For most, very little.
If your home is valued at $500,000, you will be assessed approximately $50 a year in property taxes, which equates to only about $4.16 a month. BUT secondarily as property values are rising, Austin ISD voted to reduce the assessed tax rate by 6.5 cents for 2023. This equates to a reduction by about $300 a year. It should be noted that a homeowner’s ultimate tax bill comes down to the assessed value from the Travis County Central Appraisal District and considerations like a homestead exemption.
It can be confusing why the district is asking for money through the bond yet decreasing the assessed tax rate.
So…why Austin ISD in this situation?
Austin ISD faces the highest recapture rate in the state and is expected to pay 50.3% of its general fund back to the state next year - more than $845 million to recapture.
Recapture …what’s that you ask? Let’s take a step back (we said it was complicated!). Texas has a two-ish decade system that assesses or “recaptures” funds from property rich school districts to help fund property poor districts.
Austin ISD’s recapture figure is based on a complicated formula developed by state lawmakers and last updated in 2019. Austin ISD is paying more than the next three districts combined - Houston ISD at almost $198 million, Plano ISD at almost $192 million and Midland ISD at $154 million.
However, money raised through a bond is not subject to recapture - 100% stays in the district.
The district’s budget is broken into two primary parts:
General Fund or Maintenance and Operations (M&O): This is used to pay for salaries, utilities, maintaining buildings, supplies, etc. This section of the budget IS subject to recapture.
Interest and Sinking (I&S): This includes debt services and is used to pay off debts like loans and IS NOT subject to recapture, such as this bond package.
So about 50.3% of the district’s general fund goes to recapture. It works out that Austin ISD’s recapture payment is estimated to be $845.9 million while only $835 million is left to spend in the general fund.
The reason why this bond package is so important is it will help pay for the critically needed building, maintenance (like HVAC) and technology that is not subject to recapture.
Parenting Workshop: Oct 27
Spirit Night: Epic Fun on Nov 2
Reserving a future party on Nov. 2 also counts towards Patton's 20% proceeds
We'd love your photos!
Share at PattonYearbook@gmail.com
Thank You to Our Sponsors
Patton Volunteer Opportunities
CAFETERIA: Parent volunteers are needed to help monitor students in the cafeteria each day during lunch
Visit our Sign Up Genius page here to learn more and sign up for these opportunities:
https://www.signupgenius.com/go/30e0b4da4ac2da5fe3-cafeteria
You must have an approved background check before you begin volunteering. A new one must be completed each school year. Visit https://austinpartners.formtitan.com/volunteerportal#/ to complete yours now!
Contact Patton PTA
Email: pattonpta@gmail.com
Website: pattonpta.org
Phone: 512 414-1780
Facebook: https://www.facebook.com/PattonPride