The Round Rock ISD Board of Trustees approved the Guaranteed Maximum Price (GMP) #5 for McNeil High School Phase 1 Master Plan and discussed projected values and tax rate adoption, and the Trustee appointment process at its August 29 called Board Meeting.
Guaranteed Maximum Price (GMP) #5 for McNeil High School Phase 1 Master Plan
The Board approved GMP #5 for McNeil High School, which represents the continuation of facility expansions and site improvements outlined in Phase 1 in the McNeil High School master plan.
Projects included in GMP #5 include the construction of new special education facilities additions to the southwest portion of McNeil and adjacent site improvements to the parking lot, bus lane and curb. GMP #5 construction is obligated to endangered species compliances pursuant to the United States Department of the Interior, Fish and Wildlife Service documentation of April 24, 2017, to Travis County Natural Resources.
Financial update: Property Values and Tax Rate Adoption
Trustees were provided an update on projected property values in anticipation of the upcoming tax rate adoption in September.
Trends in property values have continued to remain at a steady increase and in the last five years have grown to 10.3%, which has led to the District’s reclassification as a recapture district. Also featured, was the District’s status of granting freeport exemption.
Preparing for the upcoming tax rate approval, the current maintenance and operations tax rate of $1.04 has been in place since 2009 and the debt service tax rate is $0.293, which is the lowest it has been since 1985. Round Rock ISD continues to have one of the lowest tax rates in the region.
The Board of Trustees also discussed different scenarios for tax rate approval at the upcoming September 21 regular meeting. The first scenario sets the debt service tax rate at $0.2648 and allows the District to lower the tax rate while continuing to pay off debt at a faster rate. The second scenario sets the debt service tax rate at $0.2325 and only allows the District to pay the current debt schedule and creates the potential need for a rate increase in future years.
The Board will approve a tax rate on Sept. 21 during their regular meeting.
Evaluating the current Board Appointment process, Trustees were presented information on various types of background checks by Board Counsel Bill Bingham. Trustees will continue to consider options for adjusting the appointment process during their Sept. 11 called meeting.
