Due to a robust and thriving real estate market, Houston is considered “property-wealthy.” By law, “property wealthy school districts” can be required to purchase “attendance credits” from the State of Texas. In 2016, the Texas Education Agency (TEA) determined that HISD owed a payment of $162 million in attendance credits to the state. The referendum was placed on the November 2016 election ballot. Voters in HISD rejected sending the $162 million payment to the state. In January 2017, TEA recalculated the amount and it was decreased to approximately $77 million. This new payment amount will save HISD taxpayers money and ensure funds are kept in Houston schools.