On September 1, 2014, the Deweyville Independent School District accelerated $800,000 in additional bond payments saving the district nearly $440,000 in interest over the next 12 years. The additional funds collected are a result of rising property values in the district beginning in 2011. The initial boost increased the debt service fund balance to $600,000 in 2012. After that year, the Board of Trustees executed a plan to accelerate the repayment of future bonds by setting a tax rate that enabled the district to collect an additional $200,000 each year. Still, the Board has been able to reduce the property tax burden to the property owners by four to five cents from the initial repayment projections. Following the initial sale of bonds in 2002 and 2003, property owners began repayment of the bonds with a tax rate around twenty-five cents per $100 valuation. For the 2014 tax year, the Board approved a rate for debt service of $0.2057 added to the Maintenance & Operations rate of $1.04 for a total of $1.2457. The Board will continue to monitor property values in the future to take advantage of additional savings for tax payers while still being conscious of the tax burden on property owners. Sitting left it right: TJ Hardin, President; Doug Clark, VP. Standing L-R: Rodney Whitfield, Member; Sandra Blakeney, Secretary; Gary Brinson, Member. Not Pictured: Members Jimmy Lavergne and Debbie Burks.
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