Mansfield ISD’s tax rate is decreasing from $1.3346 to $1.1492 per $100 of certified property value. The MISD School Board approved the lower rate at the regular board meeting on Aug. 22.
“Our tax rate has decreased for five consecutive years, and that is thanks to the efforts of our Business Services Department as they look to stretch every dollar to benefit both our students and our community,” said Board President Courtney Lackey Wilson.
Under the new tax rate, approximately 78 cents ($0.7892) will go toward the maintenance and operations (M&O) fund, and 36 cents ($.3600) – the same as last year – is for the debt service fund. View details about the tax rate here.
The maintenance and operations budget funds daily costs and recurring or consumable expenditures such as teacher and staff salaries, supplies, food, gas and utilities. The debt service fund is used to repay debt for longer-term capital improvements approved by voters through bond elections.
MISD’s 2023-24 budget was approved in June.
Read more about the budget here.