Dallas City Bond Election, Proposition F- Cultural & Performing Arts Facilities
The city owns 20 cultural centers and venues such as the Performance Hall at Fair Park, Majestic Theatre, Meyerson Symphony Center, Latino Cultural Center and others. The proposition includes projects to rehabilitate these valuable facilities such as the Meyerson and the Dallas Museum of Art. The bonds authorized for cultural arts facilities in 2006 have been mostly issued. (For detail see www.dallasbond.com )Total projected cost: $14.325 Million.
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Yes - For the Measure
No - Against the Measure
• Facilities such as the Bath House Cultural Center, Kalita Humphreys Theater and Dallas Museum of Art and others are aging and need repair so that they can continue to enhance the quality of life of citizens and attract economic development.
• The city’s bond rating agency reports that the city’s debt is manageable and some relief for the beleaguered police and fire pension fund was provided by the state legislature this spring, alleviating concerns about financial stability. The city will pledge to raise taxes sufficient to pay debt service but does not expect to need to increase property taxes for this authorization. Bonds will be issued over the next several years as needed. The portion of the tax rate used to pay off debt and the overall tax rate have declined slightly in recent years.
• Many of these facilities are used by only a sliver of the population of the city. Others (eg. the Meyerson and Dallas Museum of Art) are more regional draws yet city of Dallas taxpayers are asked to foot the bill for improvements exclusively. Many of these facilities should raise ticket or entry fees vs. looking to Dallas taxpayers to pay for needed repairs.
• The city of Dallas property tax rate is higher than that of most cities in Dallas County, and is significantly higher than that of Plano, somewhat higher than that of Arlington and slightly lower than that of Fort Worth. A relatively high tax rate means a city has to compete harder to attract and retain business.
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