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Taxpayers rejoice: Belton ISD generates $3.4 million savings in bond refunds

The district is expected to save millions for taxpayers by the end of 2021.

BELTON, Texas — Belton ISD Board of Trustees announced the approval refinancing of existing bonds that are expected to generate savings of more than $3.4 million for taxpayers.  

This will now give the district the chance to take advantage of lower interest rates. 

RELATED: Belton ISD to save more than $3.4 million with bond refunds, officials say

Belton ISD is looking to refinance previous bonds from 2012 that were approved by voters to build North Belton Middle School, Chisholm Trail Elementary, and High Point Elementary. 

Currently the district has one of the lowest interest and sinking fund tax rates compared to other local fast-growth districts.

Superintendent Matt Smith is pleased that the district is able to offer cost savings to taxpayers. 

“This community has come alongside Belton ISD and supported our needs over the years,” Smith stated. “We are grateful for this support and pleased when, with thoughtful fiscal management, we can again provide cost-savings to our taxpayers.”

The board also announced that there will be adaptations of new measures that will help with the district meeting the five district-wide goals trustees approved in July. 

RELATED: 116 Belton ISD students nationally recognized for high scores on AP exams