Texhoma Public Schools Bond 2024 FAQs

What is a school bond issue?

Can I vote in the Texhoma Bond 2024 election?

Why are there two propositions?

What is a millage rate?

A millage rate is basically a tax rate on property values. This includes land, homes, businesses and equipment or personal property values. Although land and home values differ, the millage rate (tax rate) is the same across the district.

The sinking fund is a specific portion of property tax that is dedicated to pay back bond issues. The current millage rate for our sinking fund is 26 mills.

Will the bond affect my taxes?

How was this bond proposal calculated?

The first step was to determine what Texhoma really needed to fix based on greatest need. After several months of consideration, the final project list was selected by the Texhoma Board of Education. At the same time, the school board had determined not to raise the millage rate or tax rate. Lastly, the board did not want the bond to go too long into the future. Based on three factors of Need, No tax increase, and a 10 year term the district worked with our bond advisor to develop the $4,640,000 bond proposal.

Will teachers receive a salary increase because of the bond?

Can school districts borrow money?

What can bond issue proceeds be spent on?

How are bond issues paid off?