Telling the Financial Story of GCISD
What if you were offered an investment opportunity that would yield almost $50 for every $1 invested? That’s exactly how M. Ray Perryman, noted economist of The Perryman Group sees the value of public education in Texas, citing that the long-term return per dollar of incremental state investment in education is $49.69 in additional spending throughout the economy. In his article, Perryman also notes that the future prosperity, both for individuals and for society, depends on education.
Grapevine-Colleyville ISD also sees the value of public education through investing in current and future students. In fact, in May 2016, community members made an investment in the future by passing a bond election that will impact every student and every teacher in this district. Voters approved a 12.81 increase in the Interest & Sinking (I&S) tax rate. As a result of a secured lower interest rate and an increase in property values, the actual I&S tax increase for these bonds will be 7.66 cents, which is 5.15 cents less than approved. By securing a 2.8 percent interest rate, projections show that over the 25-year repayment period, GCISD taxpayers will pay $84.9 million less in interest costs than what was originally projected for the 2016 bond program.