$14.7 million in savings for taxpayers

LISD Board approval for issuance of tax refunding bonds results in $14.7 million in savings to taxpayers
Posted on 09/18/2020
District News Release

September 18, 2020

LISD Board approval for issuance of tax refunding bonds results in $14.7 million in savings to taxpayers


Lockhart ISD was able to refund the 2014 bond series on Thursday, resulting in a total savings of $14,710,649, or 21.872 percent, for the tax years 2021 to 2044. 


At the July 27 regular Board meeting, the Lockhart ISD Board of Trustees approved an order authorizing the issuance of unlimited tax refunding bonds. The current market provides the school district a strategic opportunity to take advantage of lower interest rates, saving the district money in its debt service tax rate.  The total actual savings of $14.7 million exceeds the July projected savings of $5 to $12 million dollars. 


The bond refunding does not extend the original maturity dates. Lockhart ISD will see a reduction in annual debt payments of approximately $640,000 annually. 


Since the average taxable value for homeowners in 2020 is $133,422, the bond refunding will save homeowners an average of $45.36 annually starting in 2022.



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