Mansfield ISD’s tax rate is decreasing from $1.46 to $1.4464 per $100 of certified property value.
The MISD School Board approved the lower rate at the regular board meeting on Aug. 25.
“As a taxpayer, I’m personally grateful that our Business Services Department has worked so hard to ensure that our taxes decrease, even by a little bit, because it all adds up,” said Board President Karen Marcucci. “We want to continue being fiscally responsible while doing what is best for the MISD community.”
Under the new tax rate, approximately 96 cents ($.9564) will go toward the maintenance and operations (M&O) fund, and 49 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 2020-21 budget was approved in June. Read more about the budget here.