A majority of Mansfield ISD voters voted in favor of the MISD Penny Swap. According to unofficial results, approximately 56% was in favor of the proposition.
Results are unofficial until votes are canvassed. The votes are scheduled to be canvassed on Monday, Nov. 15 at 7:30 a.m.
The Penny Swap restructures the MISD tax rate, swapping 13 pennies from the Interest and Sinking (I&S) tax rate to the Maintenance and Operations (M&O) tax rate. Doing this allows the district to maximize state funding, bringing approximately $24.7 million in additional revenue to the district each year without changing the current tax rate.
“By allowing the district to restructure its tax rate, we can continue making Mansfield ISD a destination district committed to excellence that offers the best programs for students, retains the best educators, and upholds safety and security standards,” said Superintendent Dr. Kimberley Cantu. “As we work to provide the best education possible for students, we will remain good stewards of the tax dollars we receive and continue to uphold our high standards of financial excellence, integrity and transparency."
Dr. Cantu thanked the community for its support in passing the Penny Swap. She said none of this would be possible without dedicated parents, staff and community members.
"Not everyone gets to live and work in a community where the school district is an extension of our family. It is something I do not take for granted. Your partnership is one of the many reasons why Mansfield ISD is a great place to live, learn and teach," said Dr. Cantu.
The total MISD tax rate will remain at $1.4183, approximately 3 cents less than the overall tax rate of $1.4464 in the 2020-21 school year.
Visit MISDpennyswap.org for more information about the impact the Penny Swap will have on the district.