AUSTIN, Texas — With the ballots cast and counted in the Nov. 8 election, voters in Austin city limits and Travis County were asked to vote “for” or “against” three bonds that totaled to more than $3 billion. Regardless of which bond residents chose to vote “for,” all three bonds would increase the tax rates in the area.
City of Austin Affordable Housing Bond
The City of Austin’s affordable housing bond is $350 million and is an effort by the city to provide affordable rental prices, repairs for homeowners and building housing for those that are experiencing homelessness.
The bond would increase the debt service portion of the tax rate by $0.013 and the annual impact to the typical homeowner, with a host costing a minimum of $448,000 and a taxable value of $358,400, would be a fee increase of $46.59.
Voters decided to pass the city’s bond, allowing for there to be more affordable housing during a time of record high rental and home prices.
The Austin Independent School District Bond Package
The Austin Independent School District bond package would cost $2.44 billion and would be split into three propositions:
- Proposition A: General Purpose ($2,316,025,000)
- Proposition B: Technology ($75,541,000)
- Proposition C: Stadiums ($47,434,000)
This bond package would raise the debt service portion of the school district’s tax rate by one cent per $100 of value for the coming school year (2023-24). AISD stated that due to tax rate compression, the school board will lower the overall tax rate by 6.5 cents this school year and an additional 3 cents for next year. Voters had the choice to pass all three parts of the bond, one or two parts, or none of them at all.
Voters decided to pass all three propositions of the AISD bond package for a variety of improvement needs across the campuses in the district.
The Austin Community College Bond
The Austin Community College bond costs $770 million and will go toward expanding the campuses’ training capacity for in-demand fields like healthcare and advanced manufacturing. Included in this bond are the new campus sites in southeast and southwest Travis County.
ACC stated that the bond will increase the tax rate for taxpayers that own a home worth $500,000 or more to upwards of $5 a year for the first five years. The bond cost would max out at $25 a year for the remaining years of the bond. Seniors that are age 65 or older, and residents with disabilities, would see no tax increase.
Voters decided to pass the ACC bond, allowing for further development of the community college district to enhance its programs for the increase in technology groups relocating to the area.
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