May 4, 2019
May 4, 2019—Registered voters in Cypress-Fairbanks Independent School District approved a $1.762 billion bond referendum on May 4, 2019. The school district drew a majority vote from the community, with the uncanvassed count at 10,499 votes cast FOR and 4,544 votes cast AGAINST the referendum. The approval rating for the bond referendum was 69.79 percent.
Early voting accounted for 7,848 votes, or 52.17 percent, of the total votes cast.
The referendum is for:
“Cypress-Fairbanks community members continue to be vocal in supporting public education for their children and today, they spoke at the polls,” said Dr. Mark Henry, superintendent of schools. “I want to give a heartfelt thank you to the long-range planning committee that spent dozens of hours planning for the district’s future; and district staff and community members who led and facilitated public bond presentations. Our community’s commitment to a quality public education was evident with the approval of this bond, which will impact all CFISD students for years to come.”
The maximum potential increase on the Interest and Sinking (I&S) Tax rate, or debt service tax rate resulting from the passage of the bond referendum is projected to be $0.03 over a seven-year period. This equates to $40.50 per year for a home valued at $200,000. There will be no tax increase for individuals who are 65 years of age or older or who are disabled and who qualify for an over-65 homestead exemption according to Texas Property Tax Code Section 11.26.
Through financial planning, conservative projections and strong fiscal management, CFISD has effectively financed about $3.45 billion in schoolhouse bonds over the last 21 years with minimal incremental increases to the Interest and Sinking (I&S) Tax rate. This includes bond proposals that were passed in: 1998 for $264.6 million; 2001 for $470.5 million; 2004 for $713.2 million; 2007 for $807 million; and 2014 for $1.2 billion.
A 50-member long-range planning committee met regularly to evaluate and assess current and future needs of CFISD, while developing a recommendation that:
The committee presented its recommendation for a $1,762,000,000 bond package to the Board of Trustees in February and the Board unanimously called for a bond election during a regularly scheduled meeting on Feb. 11.