Mansfield ISD’s tax rate has dropped from $1.54 to $1.46 per $100 of certified property value.
The MISD School Board approved the lower rate at the regular board meeting on Aug. 27.
“With an 8-cent decrease of the tax rate in such an amazing school district, I want people to understand the value that they’re getting for their tax dollars here,” said Board President Karen Marcucci. “We appreciate the money that is sent to us, we take it very seriously, and we really try to do the best with it and be fiscally responsible.”
Under the new tax rate of $1.46, 97 cents will go toward the maintenance and operations (M&O) fund, and 49 cents is for the debt service fund.
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 2019-20 budget was approved in June. Read more about the budget here.