University Park voters are being asked to approve a property tax increase of $.0096 cents per $100 of valuation.

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The town said the additional funds raised by the increase will be used to increase staff for the police and fire departments and provide a pension adjustment for the Firemen's Relief and Retirement Fund and improve technology at residential parking districts.

On a $300,000 home, the increase would cost the homeowner an additional $29 per year before any homestead exemptions are applied.


CITY OF UNIVERSITY PARK PROPOSITION A

THIS IS A TAX INCREASE Approving the ad valorem tax rate of $0.220055 per $100 valuation in the City of University Park, Texas for the current year, a rate that is $0.009665 higher per $100 valuation than the voter-approval tax rate of the City of University Park, Texas, for the purpose of increasing staff for the police department and the fire department, providing a pension adjustment for the Firemen's Relief and Retirement Fund (FRRF), and implementing technology for residential parking districts. Last year, the ad valorem tax rate in the City of University Park, Texas was $0.218565 per $100 valuation.

HOW ARE TEXAS SCHOOL DISTRICTS FUNDED?

Texas school districts are funded by three sources: Federal money, state money and local taxes. Local taxes comprise two tax rates, Maintenance and Operations (M O) and Interest and Sinking (I S), set by the school board. M O is the money used to pay for the day-to-day operations of a school district, including salaries and professional development, utilities, curriculum, building maintenance, and student services. I S is the money generated from bonds to pay for new buildings, renovations, security, buses and other large expenses. The I S tax rate is used to repay the bonds. Funding approved for M O and I S projects can't be mixed.

HOW CAN BOND MONEY BE SPENT?

Bond money can only be spent on capital projects like new buildings, renovations, security upgrades, land acquisition, 
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