Mansfield ISD’s tax rate is decreasing from $1.4183 to $1.3346 per $100 of certified property value. The MISD School Board approved the lower rate at the regular board meeting on Aug. 23.
“This is the lowest our tax rate has been in quite some time, and we are grateful for our Business Services Department working so hard to look for any benefit we can provide for our community,” said Board President Courtney Lackey Wilson.
Under the new tax rate, approximately 98 cents ($.9746) will go toward the maintenance and operations (M&O) fund, and 36 cents 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 2022-23 budget was approved in June. Read more about the budget here.