Financials

If approved, the bond issue would result in a tax rate increase of about 28.5 cents, but proponents say taxes will be reduced overall by 2008 due to legislative mandates.

Due to these mandates, the actual school related taxes that a resident now pays would be lower than what they pay currently. The Bullard Board of Trustees approved a 2006-07-tax rate of $1.487 per $100 property valuation.

"This is a very unique time concerning school property taxes in Texas," Davis said. "This past spring, The Texas legislature mandated a school property tax reduction to take place over the next two years."

The mandate, Davis said, would leave taxpayers with a lower tax rate by 2008.

"Although the bond increases the tax rate by about .28 per $100 valuation, our rate will be lower in 2008 than it is now."

Taxpayers over the age of 65 can apply to have their tax rates frozen and thus passage of this bond proposal would not have any affect on their current tax structure.

"This freeze protects those on those who may be on a fixed income," Davis said. "It freezes the tax and prevents taxes rising - regardless of bond elections."

Proponents also expect a steady housing influx to provide additional revenue that will give the district more discretion over how it pays the bonds. Property valuations in the district have been growing by about $60 million a year.

Construction projects related to the bond measure could be completed by the start of the 2008 school year, the committee said.

It will be the district's first bond election since 1998, when voters approved $14.9 million in bonds for a new high school. The district's enrollment has grown from about 1,250 in 1997 to 1,724 in 2006 an increase of almost 38 percent.

The district hired Eubanks, Harris, Roberts, Craig, Inc., a Tyler-based architectural firm to handle design and construction. And schools aren't new territory for the company who just finished Jack Elementary in Cumberland Gap, TISD's Douglas Elementary and renovation projects in both Whitehouse and Lindale. Southwest Securities will oversee the rate structure.

"For example, a taxpayer with a $150,000 home, after the state-mandated $15,000 exemption, would pay about $175 less in taxes in 2007-08 than he would this year - even with the added money for a bond," Davis said.

Last year, according to district records, the state paid about 15 percent of the district's annual principal and interest requirements through existing debt allotment.

The 28,5 cent scenario, members said, is a worst-case scenario.

"If the state rolls these bonds into the existing debt allotment, as it has done on all prior occasions, the tax rate impact could be reduced and any savings would be then passed on to taxpayers," said Wright.

And while it has a price tag, the legions supporting the bond know one thing: it's about education.

"These facilities will keep our students on the cutting edge of learning and will equip our teachers with the necessary tools and environment needed to provide a firstclass education," Smith said. "They will get that complete education they need to compete in today's world."

Alexander said there are ancillary benefits for the community at large, too.

"This project will give the community and its families facilities that further define Bullard's pride and sense of community," he said. "The fine arts facility will become a central meeting place for the whole community, allowing the school to host performances, presentations and other competitions."

Also, Smith said, "Just as athletics teaches life lessons, performing arts allows our children to learn about life, improvise when placed in a public forum and build self esteem that will carry over the rest of their lives."

But the Rev. Donnie Barron may have put it best, when he made the facilities committee's recommendation to the board.

"Who knows what world changers are coming through our schools?" Baron, pastor of Bullard's Southern Baptist Church, asked the trustees, just before they voted to put the measure on the ballot.

Early voting begins Oct. 21, and election day is Nov. 7.