The opportunity to vote on a Rice school bond issue brought out unusual numbers of early voters, and is expected to create a heavier-than-usual voting crowd today, as well.
Voting on the Rice school bond election takes place at the Rice City Hall from 7 a.m. to 7 p.m. today.
About 150 people took the opportunity cast early ballots on the issue, according to Larry Baer, finance director. Early voting ended May 6.
At stake is a $10 million bond issuance to build a middle school. The bond sale depends on the school district also receiving state aid for facilities and existing debt. If it doesn’t get that money, it will have to pay back the money from the bond sale and cancel the construction. If the district has to back out of the sale, it could cost the district up to $100,000.
If the voters approve the plan, it will raise the school’s tax rate 24 cents, to $1.42 for each $100 in property value. On a typical $50,000 house, that would mean an additional $84 a year, according to estimates from the school district’s finance advisor, Doug Whitt with Southwest Securities.
Two years ago, Rice’s tax rate was $1.59 for $100 in appraised value. However, like all Texas public schools, additional state assistance has lowered the local tax rates significantly. For 2007, the Rice tax rate was $1.18 for every $100.
The reason for the election is because of growth in the north Navarro County district. Rice has seen steady increases in enrollment, and is now up to 760 students.
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Janet Jacobs may be reached via e-mail at jacobs@corsicanadailysun.com
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