Written by Carina A. Brunson Friday, 13 January 2012 12:54
MISSION — Sharyland Independent School District taxpayers won’t receive as high of an increase in their school taxes as originally projected by the school district.
In September, SISD had projected a 9.7-cent tax rate to district taxpayers to help pay a $55 million bond for a second high school. By getting a low interest rate on the sale of the bond, the tax rate increase will be 8.78-cents, almost one cent less than originally projected. Jesse Muñiz, assistant superintendent for business and finance, said the increase could be as low as 8.5 cents after the sale closes on Feb. 9.
Last week, the district was looking at getting a 3.89 percent interest rate on the bond sale. When the district ran everything through on Monday, they were able to get an interest rate of 3.80 percent. The difference in interest rates will save the district nearly $2.5 million.