Preliminary certified values from Collin and Denton counties show substantial growth in Frisco ISD's territory.
According to a district press release, school officials said taxable values in Denton County are increasing by $1.2 billion, or 23.6 percent, while values in Collin County are projected to increase 1.1 billion, or 8.7 percent.
The overall growth is estimated at $2.3 billion, or 12.9 percent. Officials say more than 52 percent of the growth is from new value being added to the rolls.
"We were very encouraged with last year's growth, but this forecast is phenomenal," said Richard Wilkinson, deputy superintendent for business services.
Last year, taxable values in the District grew by $1.47 billion, or 8.9 percent, district officials said. From 2000-2007, annual gains had exceeded a billion dollars annually with a high in 2007 of $2.5 billion. From 2008 to 2012, gains had not been at these levels and even declined one year.
"To be back at those levels is promising and is significant in regard to the tax rate impact," Wilkinson said.
FISD is expected to soon issue the final $111 million of the 2006 authorized bonds and the seven schools under construction to open in 2014 and 2015, which is expected to take the district to 52,000 students. If voters approve the 2014 bond program, district officials said bonds will need to be issued later in the year to begin construction on one or two secondary schools based on current projections.
"If these preliminary values hold or increase, it is likely that we will be able to issue a portion of the new bonds to begin schools and purchase land, and make our debt payment this year with no increase on the tax rate," Wilkinson said.