2024 Bond Election

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2024 Bond Election Information

Thank you to Lewisville voters for passing all four bond propositions. These pages will be updated and moved to a new section of the website, but much of the information will remain online so residents can track our progress on these important infrastructure improvements.

The Lewisville City Council has called a May 4, 2024, election to ask voters for consideration of four bond propositions including proposed street, park, public safety, and animal shelter projects.

The total projected cost of the bond package is $263.4 million over an estimated 10-year period. The current estimate of the maximum tax rate impact on the Lewisville property tax rate is 1.5 cents, or about $4.39 per month for the median value home based on 2023 values. The City plans to mitigate the tax rate impact of the bonds and currently anticipates that the total tax rate impact could be less.

Lewisville’s current property tax rate of 41.9 cents is its lowest rate in more than 35 years (since 1986-87). Lewisville has historically held a bond election about every 10 years to address large infrastructure needs such as streets, parks, facilities, and large equipment packages. Due to steady economic growth and careful budgeting, none of the three bond packages approved by Lewisville voters since 2003 have resulted in a property tax rate increase.

The ballot will present four propositions, each focused on a different service area.

Propositions

Proposition A - $6.7 million for proposed public safety projects, including fire access facilities at Lewisville Lake Park and purchasing land for the future relocation of Fire Station #4 in north Lewisville. Link to YouTube video.

Proposition B - $9.9 million for the proposed expansion of the Gene Carey Animal Shelter and Adoption Center. Link to YouTube video.

Proposition C - $47.9 million for proposed parks projects including new and expanded parks, trails, and public open spaces citywide. Link to YouTube video.

Proposition D - $198.9 million for proposed street projects citywide including neighborhood reconstructions, major arterials, infrastructure to support the proposed redevelopment of the Vista mall area, and associated storm drainage improvements. Link to YouTube video.

There are 24 proposed projects in the bond package. The projects were selected and prioritized by a volunteer Blue Ribbon Advisory Committee of residents that formed in 2022 and conducted extensive research and public engagement through most of 2023. Use this link for a descriptions of each proposed project.

FAQ

Don't see your question below? Submit your question via email to jkunke@cityoflewisville.com for response from City staff.

Expand/Contract Questions and Answers

How were the proposed projects selected?
A volunteer Blue Ribbon Committee was formed in 2022 with nine members, including former and current members of City boards and residents at-large. They reviewed more than $1 billion in potential projects assembled by City staff and identified those projects that they felt were most important to present to Lewisville voters. Other potential projects are able to be funded entirely from other funding sources and therefore were not included as a part of the bond program. The committee’s recommended project list, project prioritization, and proposition amounts were unanimously approved by the City Council with no changes.
Would this increase our property tax rate?
It is estimated that the maximum increase in the property tax rate would be 1.5 cents over the next 10 years. That would equal about $4.39 per month for the median value home based on 2023 values. The City Council has set a goal of completing the bond package with a lower tax rate increase or no tax rate increase.

This can potentially be done because of:
- existing capacity under the portion of the existing property tax rate that is dedicated to debt payments
- the City‘s long-standing practice of retiring debt after 16 years and refunding debt when lower interest rates are available
- access to extremely low interest rates on municipal bonds in current markets due to the City’s AAA bond rating
- projected future growth in the tax base
Lewisville maintains one of the lowest property tax rates in North Texas. The current municipal property tax rate of 41.9079 cents per $100 valuation is the City’s lowest rate since fiscal year 1986-87, when it was 40.95 cents per $100 valuation.

None of the three most recent bond elections in Lewisville resulted in an increase in the property tax rate. The 2003 and 2021 bond propositions were predicted to have no tax rate impact. The 2015 election was projected to have a maximum increase of 1.8 cents, but that did not transpire due to tax base growth, strong sales tax revenue, and a focus on increased cost-efficiency for city services.
When would the listed projects be built?
This election is for a projected 10-year bond package. It is anticipated that all bond-funded projects would be started within the next 10 years. The actual schedule will be based on prioritization, workflow, and economic conditions.
Would every proposed project be built exactly as described in the City’s education materials?
The list of proposed projects is based on current conditions, but those conditions could change. New funding sources could be identified that take the place of bond funds and allow other important projects to be added. The economy could slow down and lower-priority projects get deferred. New development could cause some projects to become more or less urgent, or could add or remove projects from the list. In addition, the final design of some projects could differ from the preliminary concept drawings currently available. The list being presented to voters is based on what we know today and what we reasonably expect to see happen during the next 10 years.
How will the City account for future inflation?
The estimated costs for each project include a built-in inflationary factor of 9 percent annually to account for potential increases in the cost of materials, land, and labor.
What happens if the bond propositions are not approved by voters?
Certain projects on the list of proposed projects would have to be deferred until other funding sources could be identified. This could result in many of the listed projects not happening for many years, if at all. It also could mean that some projects move forward but with a reduced scope; for example, ad hoc repairs on neighborhood streets instead of a full-scale renovation of the entire neighborhood.
Proposition D includes money for “infrastructure to support the proposed redevelopment of the Vista mall area.” Since that is private property, how would the proposed bond money be used?
The City Council has approved a redevelopment concept for the Vista mall site that would include a blend of residential, commercial, entertainment, and open space uses. The current site, including the mall building and the multiple asphalt parking areas, does not have the roads and related infrastructure that would be needed for that type of redevelopment. If the site is redeveloped as envisioned, any streets would be public roadways owned and maintained by the City. The proposed bond funding would be used to build or improve those streets if the mall site is redeveloped. The proposed bond money would not be used to pay for, nor directly incentivize, any private construction.

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FAQ

How were the proposed projects selected?

Would this increase our property tax rate?

When would the listed projects be built?

Would every proposed project be built exactly as described in the City’s education materials?

How will the City account for future inflation?

What happens if the bond propositions are not approved by voters?

Proposition D includes money for “infrastructure to support the proposed redevelopment of the Vista mall area.” Since that is private property, how would the proposed bond money be used?