Savoy ISD Tax Ratification Election (TRE) What is it and why it is needed.

What is a Tax Ratification Election or TRE? A Tax Ratification Election (TRE) is a special election, called by the Board of Trustees, asking the voters to approve a tax rate above the $1.04 tax rate allowed by state law. $1.04 is our current rollback rate. Why are we having a TRE? As a result of the legislation passed by Texas Legislature, Savoy’s per student revenue was frozen at 2005 levels. In 2011, the Texas Legislature again cut school funding by $5.3 billion statewide. In 2014, $2.3 billion statewide was returned, but the per student cost is still below what we had in A district cannot raise it’s M&O (Maintenance & Operations) tax rate above $1.04 without a voter approved Tax Ratification Election (TRE). Utilities, fuel, teaching supplies, and the cost of living index have all risen significantly since If a district ever needs more M&O dollars than it received in , it must call a TRE.

What will it cost me? This year with the passing of Proposition 1, the homestead exemption will go from$15,000 to $25, 000. If the TRE passes, homes valued at $126,000 and less will still pay less total school taxes than last year. Homes valued above $126, 000 will see smaller increases due to the increased homestead exemption. Example - $150,000 home will increase by $2.50 per month. A $200,000 dollar home will increase $7.92 per month. Home Total Value2014 School Tax2015 School TaxIncrease/Decrease Obligation $1.323/100$1.453 /100 $15,000 exemption$25,000 exemption $200,000$2,448$2,543 Increase $95 $150,000$1,786$1,816 Increase $30 $100,000$1,125$1,090 Decrease $35 $85,000$926$872 Decrease $54 $60,000$595$509 Decrease $86 $40,000$331$218 Decrease $113 $25,000$132$0 Decrease $132

What will a TRE do for Savoy ISD? Add security access entrances and additional lighting at both campuses Provide funding to repair aging facilities such as the Elementary gymnasium roof and floor Enhance technology and necessary infrastructure Raise salaries to recruit and retain the highest quality teachers Prevent the cutting of personnel, programs, and salaries How did we get here? The current school finance system was created in If a school district needs more M&O money than it received in , then it must call a TRE. The need to stay competitive with teacher salaries and to maintain facilities has required us to look at ways to increase revenue. IF the TRE passes, Savoy ISD will receive an estimated $200,000 per year in additional revenue for the district. This will be a combination from our local taxes and the state will match those funds approximately dollar for dollar.

How has Savoy ISD been saving dollars? In spite of the efforts to decrease spending, District expenses have gone up while revenue has stayed the same since 2006 state cuts. Savoy ISD has: Refinanced the bond to save money for the district taxpayers Cut campus budgets multiple times Asked for class size waivers allowing more students in some classrooms Placed limitations on extracurricular, sports budgets, and field trip travel Postponed major maintenance and improvement projects No increases to local teacher pay scale in last 6 years, (Note: All teachers get step raises annually from the State, up to 20 years of service) Implemented energy savings plans Acquired as many grants as was possible Example: Replaced all HVAC units at both campuses with energy saving units worth $425,000 with a grant. Purchased one bus in 8 years (average age of our buses is 16 years old ) Principals have not been going to annual Principal’s Conference for the last five years. Board Trustees agreed to only go to annual TASB Convention when it is in Dallas.

When and where can I vote on this? Early voting is from October 19 th to October 30 th at the Savoy ISD Administration building Regular voting is on November 3 at The First Baptist Church of Savoy I am over 65, will my taxes increase? NO NO, tax bill on OVER-65 or Disabled homesteads are frozen and will not go up unless the homeowner does significant improvements. Voter Registration cards can be found in the offices of both campuses.