According to unofficial results from Tarrant County, Grapevine-Colleyville ISD voters have approved the school district’s Voter-Approved Tax Ratification Election, listed as Proposition A on the ballot, with 57.9% of voters in favor and 42.1% against.
“From the bottom of my heart, thank you to our community for your ongoing support of our district,” said Superintendent Dr. Brad Schnautz. “This community is special. I’m incredibly honored to serve alongside our dedicated employees, proud of our talented students, and grateful to the fellow parents here, where we know all of our kids are receiving an amazing education. We look forward to continuing to provide a path of success for every student.”
The passing of this proposition will provide approximately $6 million in much-needed funding for school district operations, including instruction, staff, extracurricular activities, transportation, maintenance and other daily operating expenses, excluding projects included in the recent bond. Bonds are paid for by a separate Interest & Sinking (I&S) fund, which is debt service. More details are available at GCISD.net/VATRE.
With approval of the VATRE, GCISD’s maintenance and operations (M&O) tax rate will be $0.7369 per $100 appraised property valuation. This rate includes three “golden pennies.” One hundred percent of the tax funds collected through these additional three pennies will stay within GCISD and not be subject to recapture.
In August, the Board of Trustees approved a decrease of $0.0093 on the interest and sinking (I&S) rate, now at $0.1864, and a total tax rate of $0.9233. With this reduction by the Board, and the approval of the VATRE, the total tax rate is still $0.0014 less than the previous year. Over the last five years, the overall tax rate in GCISD has been reduced by 37.98 cents, is now the lowest it has been in more than 25 years and remains one of the lowest in the region.
“Thank you to our entire community for recognizing the importance of GCISD schools and the contributions of every stakeholder that help us provide our students a high quality education,” said Board President Shannon Braun. “This shared commitment allows GCISD to thrive as a results-driven destination of distinction.”
Approximately 41,485 GCISD residents voted on the district’s proposition. The GCISD Board of Trustees will canvas the votes at an upcoming meeting.