Voters to decide on $116M school bond with ‘no tax increase’, Mabank ISD says

MABANK, Texas (KETK) – Mabank Independent School District is seeking the approval of a $116 million bond that if passed on Election Day, will increase student capacity and prepare the district for future growth.

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According to the school district, the projects that the bond will fund include:

  • New elementary school for 3rd and 4th grade is projected to cost $45 million.

  • Addition of six classrooms at the junior high along with renovations, improvements and expansions that will potentially cost $18.5 million.

  • Interior renovations and addition of parking at the intermediate campus that will cost about $5.5 million.

  • Space addition for Career and Technical Education programs at the high school is projected to cost $42 million.

  • Districtwide renovations and upgrades as well as land acquisition for future facilities is projected to cost $5 million.

The district said the bond would not increase the school tax rate.

“While most bond issues typically include a tax hike, the current tax rate of this bond would remain the same for MISD taxpayers,” Mabank ISD superintendent Dr. Russell Marshall said. “Due to new property value growth and the strong financial position of the district, we are able to pay off old debt early and refinance debt to save taxpayers money. Thus, with voter approval of this bond, taxpayers will not see an increase in their total tax rate.”

People who are registered voters within Mabank ISD will be able to vote on the bond on Election Day which is May 4.

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