What is the difference between a Tax Ratification Election and a Penny Swap?

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A school district must hold a Tax Ratification Election (TRE) when it is asking voters to consider raising the M & O Tax Rate above $1.04.  Fort Worth ISD is asking voters to consider a 2-cent increase to the M&O Tax Rate which will, at the same time, decrease the Debt Service Tax Rate by the same 2 cents. This particular Tax Ratification Election can also be called a Penny Swap because the swap is tax neutral.  For some school districts, Tax Ratification Elections may result in an increase to the total tax rate.  However, the 2017 TRE in Fort Worth ISD will NOT result in an increase to the total tax rate. The total tax rate will remain the same $1.352 if the 2017 TRE Penny Swap is approved by voters.

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