DallasNews.com | News for Dallas, Texas | Latest News
DallasNews.com | News for Dallas, Texas | Latest News: "As state lawmakers return to Austin for a school funding session, two Denton County developments quietly continued an unusual – and essentially anti-'Robin Hood' – method to fund education.
The developments – Castle Hills and Lantana – raise money for schools through an 0.5 percent mandatory surcharge on property sales, a formula immune to the state system of redistributing money from wealthy districts to poorer ones.
The Castle Hills development foundation in the Lewisville school district gives money only to schools its students attend, including private schools. As the development grows, the foundation expects to dole out up to $2 million annually.
'We started it because we were starting to see the impact Robin Hood was having on the school district where I live, Highland Park,' said Castle Hills developer Chris Bright.
Developers create the surcharge by placing a permanent restriction on the development's original deed before the land is subdivided.
When the developer or builder sells a plot, he pays the fee. When a homeowner sells the house later, the seller pays the fee."
The developments – Castle Hills and Lantana – raise money for schools through an 0.5 percent mandatory surcharge on property sales, a formula immune to the state system of redistributing money from wealthy districts to poorer ones.
The Castle Hills development foundation in the Lewisville school district gives money only to schools its students attend, including private schools. As the development grows, the foundation expects to dole out up to $2 million annually.
'We started it because we were starting to see the impact Robin Hood was having on the school district where I live, Highland Park,' said Castle Hills developer Chris Bright.
Developers create the surcharge by placing a permanent restriction on the development's original deed before the land is subdivided.
When the developer or builder sells a plot, he pays the fee. When a homeowner sells the house later, the seller pays the fee."
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