With more than 1,200 school districts in Texas, the Clear Creek Independent School District is the 28th largest based on student enrollment and ranks 25th based on authorized and issued debt. This 25th ranking also includes financial projections if the $487 million CCISD bond is approved by voters on May 6, 2017.
If the $487 million bond proposal is approved by voters, the District would gradually sell bonds at approximately $162.3 million per year for three years while simultaneously paying off debt at a rate of $34.0 million upwards to $76.8 million per year. Based on this analysis, the highest level of debt the District will accrue is $1.24 billion in 2019 before it goes down. Over the past 15 years, the school district has refinanced debt to take advantage of low interest rates. This has resulted in 65.5 million in savings for taxpayers.
The total tax rate for the Clear Creek Independent School District is currently $1.40 per $100 valuation. This total includes $1.04 on the Maintenance & Operations Tax Rate and $0.36 on the Interest & Sinking. Based on an analysis of the 51 school districts in Region IV, Clear Creek ISD is in the bottom-half when it comes to the total tax rate per $100 valuation. Region IV school districts include Harris County, Galveston County, Brazoria County, Fort Bend County, Liberty County, Waller County, and Chambers County.
The school district has also implemented a tax calculator for interested citizens. Homeowners can input their property value and the calculator will estimate what the tax impact would be for that particular home if the school bond proposal is authorized.