Everything in this bond is subject to change - including taxes

Balloon payments.

That's the lynch-pin of the new bond tax plan that Dallas ISD has posted on their site (as of 10/6/15) as the tax plan for the proposed DISD Bond coming before the voters Nov 3. 

Balloon payments.  Really?!!!

Yes.  This is a great example of what's wrong with this Bond.  There is no dependable plan.  Balloon payments was not the repayment plan that was presented to the Board when they voted to put the DISD Bond on the ballot. 

The plan the Board saw depended upon property values appreciated 6%-7% every year for the next five years.  Big problems with that assumption - ask any real estate agent you know (or see this article on my other site.)

I guess this plan is suppose to be an improvement to that one.  I certainly keeps payments within the current tax rate... until the balloon is due!  Just how big is that balloon payment?!

$800 Million.  That's the total of the balloon payments.

Good grief.

But why am I getting worked up about this?  The plan will surely change.  Maybe before the election, maybe after.  After all, EVERYTHING in this Bond is subject to change.

And because really, balloon payments?!  

For more info, charts, and a wonderful quote explaining it all, see the TAX page on my bond info website.