Five Bond Propositions On Ballot For Mansfield Voters In May
MANSFIELD, Texas — The City of Mansfield has launched a website where residents may learn about the five bond propositions up for election.
At mansfield2022.com, visitors can learn about the planned amenities of each bond proposition and about the potential tax impacts of the propositions. Informational videos, answers to frequently asked questions, voting information and access to factsheets about the propositions are also available.
The Mansfield City Council has asked Mansfield residents to vote on five bond propositions: a veterans memorial; a joint recreation center and library; a new park in southwest Mansfield paired with renovations to Michael L. Skinner Sports Complex; an expansion of Mansfield’s linear trail network; and a Miracle League field. The projects cost a total of $155.5 million.
A property tax increase could be necessary to fund the proposed projects. The City of Mansfield cannot guarantee a particular interest rate or tax rate associated with the general obligation bonds that would be authorized with the approval of the propositions. However, the City of Mansfield can provide an estimated tax rate impact that is based on current local and national economic conditions.
If voters approve all five propositions, city officials estimate that a maximum property tax rate increase of approximately $0.1284 would be needed to fund the bond package. That would equate to an estimated $10.72 per $100,000 of assessed value per month in additional property taxes. This estimated property tax increase assumes the City of Mansfield would immediately issue all necessary debt to finance the projects and experience zero growth in its tax base over at least the next 20 years.
Tax base growth and longer project timelines could reduce the tax rate impact. The City of Mansfield estimates that the city’s tax base will grow by an average of 3.2% per fiscal year for the next five years.
The city’s tax base increased by an average of 6.8% per year from fiscal years 2012 to 2022. The City of Mansfield would also plan to issue the necessary debt for the projects in phases that correspond with the projects’ completion timelines.
Visit mansfield2022.com to learn more about the propositions. Early voting for the City of Mansfield’s bond election begins April 25 and ends May 3. Election Day is May 7, 2022.