“Our Children, Our Community, Our Future” Franklin ISD School Board calls Elections for November 3, 2020 BOND ELECTION: I&S (Bond) TAX RATE WILL DECREASE 14 CENTS The Franklin ISD Board re-instated the Order to call a bond election for November 3, 2020 to replace the bond package that was canceled last May due to Covid-19. The 2020 bond package has not changed since May 2020. Bonds are a vital part of how the district structures its budget each year to keep tax dollars in Franklin and prevent the tax rate from increasing. VATRE ELECTION: M&O (Maintenance & Operation) TAX RATE WILL INCREASE 3 CENTS The Board also called a Voter Approved Tax Rate Election (VATRE) asking voters to allow the district to move three of the district’s I&S (bond) pennies over to the M&O (maintenance and operation) side of the tax rate. These three pennies will now be considered Golden pennies and NOT be subject to Recapture under the new school finance law House Bill 3. These three golden pennies will be used to support the proposed 2020-2021 salary increase for the FISD teachers and staff. In the past, this has not been an option for Franklin ISD. FISD OVERALL TAX RATE DECREASES 11 CENTS FOR 2020 More information about the November Bond and VATRE will be released soon.