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Bastrop is home to high taxation & wasteful spending

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Bastrop is home to high taxation & wasteful spending

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  1. WHY CITIZENS SHOULD VOTE NO ON THE AUSTIN COMMUNITY COLLEGE TAX ANNEXATIONBastrop County Taxpayers Association*(BCTA) Bob Parmelee, Chairmanand BEARPAC(Bastrop Education Alternative RemedyPolitical Action Committee)8/23/2010 REV B 8/29/2010http://bastroptaxpayers.org/; http://www.acctaxfacts.com/http://noacctax.info/

  2. Bastrop is home to high taxation & wasteful spending • Bastrop among highest taxed counties in Texas. (Texas Public Policy Foundation) • Current rank: 12th highest taxed county • Bastrop tax rates today driven by bond debt: • $35 million City of Bastrop • $46 million Bastrop County • $430 million Bastrop ISD Do you really want to add more debt? • $444 million ACC Tax District

  3. Bastrop Debt is Driven by Wasteful SpendingWHY DON’T WE STOP? • Debt has been driven by “spending follies” • BISD Performing Arts Center • Bastrop Convention Center • “Giveaway” of the old Bastrop city hall • etc

  4. The Austin CC BISD Proposal • Taxation rate.0946 * per $100 property valuation • Discount of $108 per credit for academic courses.** • No Discount for Continuing Education courses. • Austin CC to borrow and spend $38 M for 87 acre Bastrop campus *notes: ACC Tax rates are rising due to falling property values in Travis County and elsewhere. BCTA uses a more reasonable estimate of .100 **Based on $42 “in-district” tuition vs. $150 out-of-district

  5. Austin CC Taxation would create “A Great Sucking Sound” of Wealth to Austin • Annual taxation about $2.6 million.* • Tuition advantage only $976K.** $108 (discount per credit hour) x 9035 (est credit hours) • Net annual BISD area economic loss $1.6 M. * Based on reasonable ACC taxation rate of .100 per $100 valuation **Source: Austin CC public hearing presentation. http://www.austincc.edu/annexation/presentations/071210bastroppublichearing.pdf)

  6. Austin CC plans are Financially Irresponsible • Buy 188 acres in Bastrop County • Build two campuses 16 miles apart for $74 M. • “Taylor Center” Junior College already in place north of Elgin (817 students, 23 from Elgin) • ACC also buying 217 acres in Hays, Leander, San Marcos & Austin. Total taxpayer land cost: $35.4 M. DOES THIS PLAN MAKE SENSE TO YOU?

  7. Austin CC is engaging in Land Speculation • Real estate is declining in value. ACC and Elgin ISD just announced tax increases to cover falling property values. • And yet, says Austin CC President Kinslow, "Acquiring this land now is a good investment," (Hays Free Press) • Do community colleges have the authority to gamble on real estate with taxpayer money?

  8. What if the “Great Recession” deepens? • With annexation, BISD taxpayers will share liability for Austin CC debt - now at $444M - BEFORE the planned land buys. • As the recession deepens, land values may fall further forcing ACC to raise taxes to pay its immense debt.

  9. Ethics Complaints Pending • Sworn complaints cite misuse of public funds during Austin CC petition and campaign.   • BISD Board Members recently voted to let BISD lawyers represent current and past board members facing ethics complaints. • BCTA members confirm service of ethics violation complaints filed against members of the BISD Board of Trustees.

  10. Alternatives to improve education in BISD and Bastrop County • Expanded use of high school facilities, • Texas State Technical College trade school • Emphasize BISD academics over athletics • K-12 School Choice • Distance Education !!!! • Tuition tax credits- a simple way to save $$ • None of these options were adequately explored. ~ WHY?

  11. An Austin CC Monopoly? WHY? • Taxpayer subsidized tuition discounts would give Austin CC a huge advantage in Bastrop; an effective monopoly. • Students would drop other college enrollment • Austin CC was recently criticized for low graduation and transfer success rate. Why award a monopoly position to an mediocre college?

  12. Would You Buy This Used Clunker ? Rules: No alternatives considered No long term cost-of-ownership determined Irrevocable ownership Perpetual Taxation No test drive No tire kicking IS THIS AN EXAGGERATION ???

  13. Remember the Del Valle Fiasco? • In 2004 in a light turnout election; Just 803 Del Valle taxpayers voted ACC tax on 35,000 • In 2009, just 325 Del Valle students attended Austin CC for a $500K annual tuition advantage. • In 2009, Del Valle taxpayers paid ACC $2.6 million • Del Valle’s 2009 net economic loss: $2.1 million • Del Valle’s 7-year economic loss: $14.7 million

  14. Don’t Mortgage Your Children’s Future • ANNEXATION WOULD BE VIRTUALLY IRREVOCABLE. • TUITION IS TEMPORARY, BUT TAXES ARE FOREVER. • VOTE NO ON AUSTIN COMMUNITY COLLEGE TAX ANNEXATION.

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