082215 Penny swao elections

El Pasoans voted overwhelmingly approved the “Penny Swap” Saturday.

El Paso Independent School District’s tax ratification election attracted close to 8,800 voters, with 80 percent voting in favor of the so called Penny Swap.

District officials said the Penny Swap would move 3 cents from the portion of the school district’s tax rate that pays for debt and move it into the portion that pays for day-to-day operations.

The district promised voters the swap will have zero impact on their taxes which would remain at $1.23 per $100 of home valuation.

ABC-7 spoke to district Superintendent Juan Cabrera and asked now that the Penny Swap has passed how soon could the district see the impact.

“We’ll immediately start making sure that the raises start going into effect on Monday so we’ll work so this goes in on a payroll perspective,” Cabrera said.

Cabrera also told ABC-7 65 percent of the extra money would go not only to teachers but also be used for class room technologies, educational programs and buses among other things.