PROSPER ISD: THE FASTEST-GROWING SCHOOL DISTRICT IN DFW
Bond Election Passes with 85% Voter Approval
The $1,337,000,000 bond election on May 4, 2019 was approved by 85% of the voters, according to unofficial results on election night. Preliminary results show that 3,966 voters were ‘for’ the proposition while 720 were ‘against’ it.
In the Know
Prosper ISD is the fastest-growing school district in DFW
Today, more than five times as many students are enrolled in Prosper ISD compared to 2007, when the district
held its last bond election.
The enrollment is expected to more than double (again) by 2025.
2007 Enrollment: 2,800 students
2019 Enrollment: 14,632 students
2028 Projection: 40,387 students
Bond Breakdown
*95% of Bond Funds will Address Growth
Important Dates
APRIL 4, 2019
VOTER REGISTRATION DEADLINE
APRIL 22, 2019
EARLY VOTING BEGINS
APRIL 30, 2019
EARLY VOTING ENDS
MAY 4, 2019
ELECTION DAY
Growth
A Look at How the Student Enrollment is Projected to More Than Double by 2025 in the Fastest-Growing School District in DFW
Five Times More Students Today than 2007
Prosper ISD is considered the fastest-growing school district in DFW. In 2018 alone, more than 3,000 new homes were built in the district boundaries and there are more than 5,500 vacant lots that are already developed for new homes. An additional 21,940 residential lots are platted for future use.
Based on growth in the area and student enrollment projections, the bond proposal includes 16 new schools to accommodate up to 33,000 students. Every campus in Prosper ISD is currently over capacity.
What’s Proposed
95% of the Bond will Address Growth
New Schools for Growth
($1,128,500,000)
9-10 Elementary Schools
Would accommodate an additional 7,500 elementary students.
4-5 Middle Schools
Would accommodate an additional 6,600 middle school students.
2 High Schools
Would accommodate an additional 6,000 high school students.
Projects to Support Growth & Programs
($90,000,000)
Transportation/Buses
Purchases buses to accommodate student growth and additional routes.
Performing Arts/Staff Development Center
Would provide adequate audience and performance space for fine arts programs and special events in addition to dedicated space for professional learning and teacher training,
Natatorium #2
Would be built after High School #4 to serve the growing student population.
Administration/Support Services Building
Would provide office and collaboration space for central office and support staff as well as house other district operations.
Capital Improvement Projects
($68,500,000)
Safety & Security
All campuses would be equipped with modern safety and security systems.
Technology Infrastructure
Technology infrastructure would be updated and enhanced across the district by adding fiber, generators and additional system upgrades.
Instructional Technology
Equipment and devices would be updated throughout the life of the bond program.
Communication Systems
Communication systems would be updated across the district by upgrading phone and emergency communication equipment.
Playground Replacements
Playground structures and surfaces would be replaced to provide safe, modern play areas for
elementary students.
Heating & Air Conditioning Systems at Aging Campuses
Aging HVAC systems would be replaced at the end of their life cycle to provide appropriate climate in classrooms and schools.
Land for Future School Sites
($50,000,000)
Purchase land for schools in 2019 Bond + additional future school sites, if funds allow.
TOTAL BOND PROPOSAL
$1,337,000,000
Planning for the Future
A Look at Prosper ISD’s Bond History & How the District & Community Have Planned for the Future
Background Information
The Prosper ISD Board of Trustees and administration, with the expertise of Templeton Demographics, has studied housing and enrollment trends for years. As the fastest-growing school district in DFW, demographers estimate that Prosper ISD will continue to experience unprecedented student enrollment growth in future years.
Citizens’ Committee
The 2019 Bond package is a result of a recommendation made to the Board of Trustees by the district’s Bond Planning Committee. The Committee was made up of local citizens, parents, and civic and business leaders. Members met several times in 2018 and early 2019 to consider the growth and educational needs of all Prosper ISD students. The Committee reviewed demographic projections, district financial information, existing facility conditions, and had the opportunity to tour existing campuses before prioritizing potential bond projects.
Charge of the Bond Planning Committee
- Consider the educational needs of all students and align with the district’s mission, vision and goals
- Represent the entire community, its values and perceptions in the facility-planning process
- Assess and prioritize the district’s current and long-term facility needs
- Consider the district’s current financial position and funding methods to develop a recommendation that is fiscally sound
- Report their finding to the Board of Trustees including recommendations as to how to progress with addressing the district’s facility needs
Bond History
Prosper ISD’s Last Bond Election: 2007
2007 Bond Facts, BY-THE-NUMBERS:
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80% approval by voters
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$710 million
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2,800 students were enrolled in Prosper ISD in the 2007-2008 school year.
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9,600 students seats will be added as a result of the 2007 bond election.
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4 new schools are remaining from the 2007 bond election and are on schedule to open in 2019 and 2020 (Elementary #10, Elementary #11, Middle School #3 and High School #2).
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3 additional facilities are remaining from the 2007 bond election (Stadium, Natatorium, Instructional Support Center).
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300+acres have been purchased for future school sites.
2007 Bond PROJECTS:
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8 Elementary Schools
Elem #4 opened in 2012
Elem #5 opened in 2015
Elem #6 & #7 opened in 2016
Elem #8 & #9 opened in 2018
Elem #10 & #11 to open in fall 2019
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2 Middle Schools
MS #2 opened in 2009
MS #3 (Hays MS) to open in fall 2019 -
2 High Schools
New Prosper High School opened in 2009
HS #2 (Rock Hill HS) to to open in fall 2020 -
Stadium & Natatorium
Opening in fall 2019 -
Support Services Facility & Transportation Center
Opened in 2008 -
Land Purchases for Future Schools
-
Technology
Previous Bond Elections:
2003
$135 million
2001
$15 million
1997
$10.6 million
The Prosper ISD tax rate will not change as a result of the 2019 bond election.
Public school taxes involve two figures, which divide the school district budget into two “buckets.”
- The first bucket is the Maintenance and Operations budget (M&O), which funds daily costs and recurring or consumable expenditures such as teacher and staff salaries, supplies, food and utilities. Approximately 83% of the District’s M&O budget goes to teacher and staff salaries.
- The second bucket is the Interest and Sinking Fund (I&S), also known as Debt Service, which is used to repay debt for capital improvements approved by voters through bond elections.
Proceeds from a bond issue can be used for the construction and renovation of facilities, the acquisition of land and the purchase of capital items such as equipment, technology and transportation. By law, I&S funds cannot be used to pay M&O expenses, which means that voter-approved bonds cannot be used to increase teacher salaries or pay rising costs for utilities and services.
If the bond election is approved by voters, the Prosper ISD total tax rate will remain at $1.67 per $100 of property valuation. According to state law, a public school district cannot raise taxes higher than $1.67. It is the district’s intent to issue future bonds within the existing tax rate and sell bonds to fund projects when it has the capacity to do so.
Prosper ISD can maintain the same tax rate because of increased revenue from growth in the area, rising Taxable Assessed Values (TAVs), and because the Board of Trustees has continued paying down existing debt from the 2007 bond. Each year as more businesses and homes are built, the taxable value of Prosper ISD grows, and the bonds would be sold against that new value. Learn more by watching the 2-Minute Drill from April 3.
Tax Rate History
Same total tax rate for 10 of the last 12 years
Voters Over 65
Prosper ISD property taxes for citizens age 65 or older would not be affected by the bond election.
- The school district tax rate will not change for anyone as a result of this election.
- Citizens 65 & over are eligible for an “over 65” homestead exemption.
According to state law, the dollar amount of school taxes imposed on the residence homestead of a person 65 years of age or older cannot be increased above the amount paid in the first year after the person turned 65, regardless of changes in tax rate or property value unless significant improvements are made to the home. If you are 65 or older, you may file a homestead application at any time, or contact your local appraisal district to see if you already have the appropriate exemption on file.
QUESTIONS
Frequently Asked Questions
What is a bond?
A bond is similar to a home mortgage. It is a contract to repay borrowed money with interest over time. Bonds are sold by a school district to competing lenders to raise funds to pay for the costs of construction, renovations and equipment. Most school districts in Texas utilize bonds to finance renovations and new facilities.
How can bond funds be used?
Bond funds can be used to pay for new buildings, additions and renovations to existing facilities, land acquisition, technology infrastructure and equipment for new or existing buildings. Bonds cannot be used for salaries or operating costs such as utility bills, supplies, building maintenance, fuel and insurance.
What is a bond election?
School districts are required by state law to ask voters for permission to sell bonds to investors to raise the capital dollars required for projects such as renovation to existing buildings or building a new school. Essentially, the voters are giving permission for the district to take out a loan and pay that loan back over an extended period of time, much like a family takes out a mortgage loan for their home. A school board calls a bond election so voters can decide whether or not they want to pay for proposed facility projects.
Exactly how much is the proposed bond package?
The Board of Trustees called a bond election in the amount of $1,337,000,000 to be brought before voters on May 4, 2019.
How was the bond package developed?
Development of the bond proposal was an in-depth process of information gathering, research and community input. The Board of Trustees worked with staff for more than a year to study growth trends, facility assessments and financial data before convening the Bond Planning Committee to seek input from the community. The Board received a recommendation from the Bond Planning Committee, studied options and deliberated before voting unanimously to call for a bond election.
How can the district call a bond election with no increase to the tax rate?
According to state law, a public school district cannot raise taxes higher than $1.67 per $100 of property value. Therefore, Prosper ISD’s existing tax rate of $1.67 would not change as a result of the 2019 bond election. Learn more by watching the 2-Minute Drill from April 3.
Where does the money come from? How can Prosper ISD afford these projects without changing the tax rate?
Much like a family takes out a mortgage, the school district would sell bonds to fund new construction projects. The bonds would be sold against new value that has resulted from more homes and businesses being built in Prosper ISD. Prosper ISD’s ability to issue additional bonds will continue to grow as the student population and the Taxable Assessed Values (TAVs) continue to rise.
If the tax rate is staying the same, does this mean the money is already available?
Not exactly. School districts are required by state law to have elections to get permission from voters to sell bonds to fund new schools and other capital projects. Prosper ISD would need authorization from voters before it could move forward with the new projects identified in the 2019 bond proposal. The last time Prosper ISD voters authorized the sale of bonds was in 2007. Since then, the district has used the approved $710 million worth of bonds to fund the construction of eight new elementary schools, two middle schools, two high schools, a stadium, a natatorium, and a maintenance/bus facility. Bond money for the proposed projects outlined in the 2019 bond is not available to the district without an election approved by voters who reside within Prosper ISD.
How will the proposed bond election affect my taxes?
There will be no impact to the Prosper ISD tax rate as a result of this election. The current tax rate is $1.67 per $100 of property valuation and the rate will stay the same regardless of election results. Per state law, the tax rate cannot go higher than $1.67.
What if I am over 65 years old? What is the tax rate I pay?
The school district tax rate will not change for anyone in Prosper ISD as a result of this election. In addition, residents 65 and over are eligible for an “over 65” exemption. If you have applied for and received the age 65 and older exemption on your homestead, by law, your school taxes cannot be raised above their frozen level. The amount of taxes you pay is determined by the tax amount at the time your taxes were frozen. The taxes cannot go up as a result of this election.
What if I am over 65 years old and receive the “Senior Citizen Exemption” and my home value goes up, will my taxes increase?
The appraised value can change, but the amount of school taxes on your homestead cannot increase. Normal repairs, maintenance and the economic impact of the market cannot increase the amount of taxes you will pay once a tax ceiling is in place on that homestead. Therefore, if this bond election is successful, it will not have an impact on the tax bill for homesteads that are receiving the senior citizen exemption, unless you make significant improvements to your home.
Who is eligible to vote in this election?
Any registered voter that resides within the Prosper ISD boundaries.
Can I still register to vote in the election?
The deadline for voter registration is April 4, 2019. If you are not registered to vote by this deadline, then you are not eligible to vote in this election. The Texas Voter Registration Application can be found online here, or applications can be picked up at any Post Office, library or Department of Public Safety location. All schools in Prosper ISD also have copies of the Voter Registration Application.
After I have registered, when will I receive my Voter Registration Certificate?
You should receive a Voter Registration Certificate within 30 days. On Election Day, please bring your certificate to your local polling place if you have it. However, all that is required to vote is a valid ID.