(The Center Square) – Multiple news outlets reported that the Houston Independent School District board voted last week to pass a $4.4 billion bond proposal. This total excludes the interest on the principal. When included, it brings the total debt obligation to nearly $11 billion.
To pay for it, the board will authorize levying new, additional property taxes over 33 years, if voters approve the proposal in November. Taxpayers would be saddled with additional debt and taxes through 2058, according to the bond certificate filed by the district.
This is the largest debt and property tax increase proposal in state history.
On Aug. 8, Houston ISD held a special board meeting and unanimously passed two propositions. This is after Houston ISD had seen FBI raids tied to allegations of corruption, record failing grades prompting a state takeover, and enrollment dropping by nearly 15% over the last decade.
Houston ISD residents will vote in November to support or reject increasing their property taxes to cover an estimated $60,000 in debt per currently enrolled student.