PROPOSITION A - "PENNY SWAP" TAX RATE AUTHORIZATION
Our total school tax rate is comprised of a Maintenance & Operation part and a Debt Payment part. If approved by voters, Proposition A, the “Penny Swap” tax rate authorization, would allow the District to increase the Maintenance & Operation portion by two cents, so that it can lower its debt service portion by an equal two cents.
This “penny swap” would allow Fort Worth ISD to receive an additional $23 million each year for Maintenance & Operation – mostly funded by added money from the state. This would result in up to $230 million over the next 10 years and allow the District to launch its proposed bond improvement program, Proposition B, with no increase in the current school tax rate.