Friday, August 17, 2018

Potential $610 million total loss if Tax Ratification Election (TRE) fails for Dallas ISD

Dallas ISD will lose over $90 million in State Revenue over the next 5 years, plus $520 million in local funds, if the TRE does not pass!

Yes, State Revenue will go down as other income rises, but only after the first year of the TRE being in place. That year the State Revenue will go up over $22 million over the income if the $1.04 tax rate stayed in place! By the 5th year State Revenue will still be over $14 million higher than it would have been if the $1.04 rate had remained! See blue line in spreadsheet. We are talking about State Revenue, not local revenue!
We are talking about income from the two "golden pennies", $1.05 and $1.06, that some trustees including Joyce Foreman, wanted approved last year and again this year. That is income that is matched by the State. That is why the DISD State Revenue will immediately go up over $22 million the first year if the TRE passes. I have inserted that increase in State Revenue into new non-numbered and highlighted lines in this same spreadsheet I circulated before. (I will gladly share the Excel copy with anyone if they want to check the math.) The blue highlighted lines are the increased State Revenue generated by the "Golden Pennies."
Again, if the TRE fails DISD students and teachers will be loosing about $610 million over the next 5 years. $90 million of that amount will come from increased State Revenue over those 5 years.

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