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North Hopkins ISD To Conduct Tax “Swap” Ratification Election

According to Superintendent Darin Jolly, in an effort to maximize state funding, North Hopkins Independent School District is seeking to pass a Tax “Swap” Ratification Election. The purpose of the election is to allow the district to move $0.13 from the Interest and Sinking (I&S) (debt payment) tax rate to the Maintenance and Operations (M&O) tax rate. This move causes the $0.13 to generate more money from the state for the district, without raising the total tax rate. The public is invited to attend an Informational Meeting on September 5th at 7pm in the North Hopkins Cafeteria.

The proposed change generates the same projected local tax revenue – $981,648, because the pennies are just “swapped” between M&O and I&S, but the move increases the projected state revenue by $251,635 for the 2017-2018 school year. The tax “swap” election will not change the total tax rate:

Current Tax Rates: M&O $1.04; I&S $0.215; Total Tax Rate $1.255

Proposed Tax Rates: M&O $1.17; I&S $0.085; Total Tax Rate $1.255

Early voting by personal appearance shall take place beginning on September 19, 2017 and ending October 2, 2017 at the following hours and location: Between the hours of 8:00 a.m. and 2:00 p.m. each weekday and from 8:00 a.m. to 5:00 pm. on October 2, 2017 at the North Hopkins ISD Secondary Office, located at 1994 FM 71 W, Sulphur Springs, TX 75482.

Voting on Election Day, October 6, 2017, will be conducted from 7:00 a.m. to 7:00 p.m. in the North Hopkins ISD Administration Building Board Room, located at 1994 FM 71 W, Sulphur Springs, TX 75482.

The public is invited to attend an Informational Meeting on September 5th at 7pm in the NH Cafeteria.

For more information, contact Superintendent, Darin Jolly or Business Manager, Jan Vaughn at 903-945-2192 EXT 8029 or online at www.NorthHopkins.net

Author: Staff Reporter

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