Learn about the Penny Swap in under 4 mins.
Penny Swap 2020
The Penny Swap, also known as a Voter-Approval Tax Ratification Election (VATRE) adds more funds to the district’s operating budget by swapping two cents from the district’s interest and sinking (I&S) tax rate to the district’s maintenance and operations (M&O) tax rate.
Under the school finance system, the Eanes ISD tax rate will be compressed from $1.13 to $1.1164. This election will NOT change the compressed tax rate, but it will allow the district to dedicate more of the money it collects to teachers and school operations.
Approval by voters would move two cents from the I&S tax rate to the M&O rate, resulting in a $1.1164 overall tax rate after compression from the current rate of $1.13. If voters do not approve the penny swap proposal, the overall tax rate will still be $1.1164 per $100 valuation, but approval by voters would generate an estimated additional $3.3 million of local tax revenue that stays in the community for school operations.
Election Day is November 3, 2020.
Early Voting runs October 13 through October 30.
Los documentos se encuentran disponible en las oficinas del Edificio Central de la Administración del Distrito Escolar de Eanes en Camp Craft Road, número 601, Austin, Texas 78746.