Timpson ISD Calls for Facilities Bond Election - On Thursday, February 18, 2016, the Timpson ISD Board of Trustees voted unanimously to approve the first facility bond election for Timpson ISD since 1986.  The bond proposal will be voted on during the regular school election on Saturday, May 7, 2016.  The proposal is for the construction of a new and safer parent and bus pickup arrangement at the elementary school, a new bus barn, repair and expansion of parking areas, a new safer playground for elementary students, a new vocational agriculture facility, a new school event center/gymnasium, a renovation and expansion to the current band hall, along with drainage correction on the campuses, the track, and other external and internal school and safety improvements.

 

Bond Facts

 

•       Amount of Bond - $9,500,000.00

 

•       29¢ per $100.00 valuation

 

•       This amount maximizes state facilities funding. Timpson ISD has the opportunity for approximately 43% of the payment to be paid for by the State under our current values and enrollment.

 

•       Timpson ISD has retained the 20% local homestead exemption, so homeowners in Timpson currently pay less taxes on their homes than 15 of our closest neighboring schools and will continue to be in the lowest two or three of these districts following passage of the bond.

 

•       The new rate including the additional 29¢ will still be lower than our school tax rate was in 2005; the new proposed rate will be $ 1.4617 per $100 valuation.

 

•       In 2009 the Timpson ISD school board decided to return 9¢ of bonded indebtedness to the tax payers because the bond was paid off early.

 

•       Homeowners age 65 and over can apply for a homeowners tax freeze for their home and up to 5 acres.  Their homeowner taxes will not increase unless they make property improvements.

 

 

 

If the bond is not approved:

 

 

 

•       The school will lose the opportunity to receive millions of dollars of state funding toward facilities construction.

 

•       Timpson ISD facilities will not receive significant upgrades under current funding levels.