Team SISD has earned consistent recognitions for its fiscal responsibility and financial transparency. SISD recently was named as one of only three districts across the state to earn three Transparency Stars from the Texas Comptroller of Public Accounts program, which recognizes local governments for going above and beyond in their financial transparency efforts. The district has also earned the highest possible rating for seven consecutive years in the School Financial Integrity Rating System of Texas, and the 2016 Texas Association of School Business Officials Award of Merit for Purchasing & Operations for maintaining professional standards in the acquisition of goods and services.
Bond 2011: Promises Made, Promises Kept
In 2011 voters approved a $297.4 million bond program. Staying true to commitment of Promises Made, Promises Kept, the district completed all projects outlined in Bond 2011 on time and under budget. Due to great management and a positive construction market, the district realized $37.4 million in savings which allowed for the modernization of four additional schools and one new elementary school to be added without having to further burden taxpayers.
The District's Bond ratings impact its ability to issue bonds and the interest rate paid for the debt. Through its history of financial accountability and efficiency, SISD enjoys high ratings from national rating firms. The Fitch Rating Agency reaffirmed strong bond ratings for SISD maintaining its underlying financial rating of AA. Factors that support the AA rating include the district’s above average revenue growth, revenue raising capacity, strong gap-closing capacity and low fixed costs. Moody’s Investors Service assigned SISD an Aa2 underlying bond rating based on a stable financial outlook and an Aaa enhanced rating based on a guarantee from the Texas Permanent School Fund. Moody’s cited the district's robust financial position, large and growing tax base, and manageable pension burden.
SISD Tax Rate
A review of the district’s tax rate history highlights the fact that the district has maintained the same tax rate for six consecutive years. A comparison of tax rates amongst area school districts, shows SISD has the lowest rate of the major school districts in the region. At $1.27 per $100 valuation, SISD’s total tax rate is 14 cents lower than EPISD (when the district sells all of its voter- approved bonds) and 19 cents lower than YISD.
Specifically, SISD’s tax rate includes the lowest maintenance and operations rate in the region. While the district can raise its M & O rate to $1.04 without voter approval, the SISD Board of Trustees has kept the rate well below, demonstrating the team’s commitment to collect only what is necessary from taxpayers to fulfill the district’s priority of providing the highest quality education for all students.
SISD Tax Rate History
The total school tax is made up of two district parts:
- The Maintenance & Operations Tax, commonly referred to as the M & O tax rate, pays for the daily operations of the district.
- The Interest & Sinking Tax, commonly called the I & S rate, pays off debts like bonds.
These two assessments together make up the total school tax.
Tax Rate Comparison
District 2017 M & O Tax Rate 2017 I & S Tax Rate FY2017 Total Socorro $0.98 $0.29 $1.27 Ysleta $1.17 $0.29 $1.46 El Paso $1.07 $0.34* $1.41
* When EPISD sells all of its voter-approved bonds
Bond 2017 Tax Impact - $448.5 million
Amount Total I & S Tax Rate* Total Tax Rate Increase Monthly Impact** $448,500,000 $0.399 $0.106 $8.83
*Per $100 Valuation
** With a home of a taxable valuation of $100,000