Last day to register to vote in El Paso ISD’s “Penny Swap” election Thursday

El Paso Independent School District wants access to the state’s golden pennies, but the district can’t do it without your permission.

EPISD will be holding a tax ratification election this August, hoping to get millions more dollars in state funding just by swapping pennies around.

“This is a reward from the state, saying if you do approve this rate we’ll give you a little extra money,” said El Paso Federation of Teachers President Ross Moore.

By extra money Moore means $9 million a year. If voters agree to take three pennies from the side of the tax rate that pays for debt ($0.195 to $0.165), and move them to the part that pays for day-to-day operations ($1.040 to $1.070), it will trigger Texas’ “Austin Golden Pennies”. “Golden pennies” are the specific cents of a tax rate that generate more state money revenue because they are weighted at a higher level than the rest.

“By doing this swap, it allows to avoid going out and having a large bond election,” said Trustee Trent Hatch.

The tax rate stays the same, about $1.24 per $100 of home valuation, which is in the interest of you the EPISD taxpayer. But there are others who stand to gain.

Moore is looking forward to the raises administrators, faculty and hourly employees will receive if the penny swap passes.

“This will make EPISD competitive,” Moore said.

Right now EPISD teachers are paid the least in the county, just under $50,000 on average. A 2.5 percent raise with the penny swap means around $1,200 more in their pocket per year.

“These funds will be used for our students,” Hatch said.

Hatch said $9 million extra in state money, plus the $5 million the tax generates here means $14 million for continued summer enrichment programs, new instruments, buses and digital content, plus middle school sports, sciences labs and career technical education will all be expanded

“This is a watershed moment in the districts development,” Moore said.

“We just have to make sure we’re doing the right thing and make sure we’re voting in this TRE for funds that are available at no impact to the community,” Hatch said.

The last day to register to vote is July 23. The tax ratification election day is August 22. Early voting begins August 10-18.