Tax Rate Set - 9-22-20

MISD Sets 2020-2021 Tax Rate
Posted on 09/22/2020
This is the image for the news article titled MISD Sets 2020-2021 Tax RateMarshall ISD’s Board of Trustees officially set the tax rate for the 2020-2021 school year at $1.2563 per $100 valuation, which is a slight decrease from the total tax rate of $1.26 a year ago.

The district’s Maintenance and Operations tax rate is $0.9664 per $100, with the Interest and Sinking Fund (bond debt) rate coming in at $0.2899 per $100.

The overall tax rate for MISD has been decreasing almost annually since the completion of the 2015 Legacy bond projects in 2017. The tax rate in August 2018 was set a $1.33 per $100 valuation.

For more information on where MISD stands in regards to bond indebtedness, visit the district’s Debt Transparency website at https://marshallisd.com/marshall_independent_school_district/business___financial_services/debt_obligation.

In other business from Monday’s September meeting:

• Dr. Jerry Gibson, MISD Superintendent, presented the monthly Data Review and gave board members an update on the district’s Beginning of Year Star Renaissance data. Even with the early close of school last spring due to the COVID-19 shutdown ordered by Gov. Greg Abbott, MISD students have shown improvement in Reading from the middle-of-the-year assessment to the beginning of this year assessment. In Math, students also saw mostly improved scores despite the closing of school for the final two months of last year.

• The district’s monthly financial reports were approved under the Consent Agenda.

• Trustees unanimously approved a Budget Amendment to the 2020-2021 Debt Service Budget. The adoption of the $0.2899 I&S tax rate for 2020-2021 will increase the amount of revenue generated, which triggered the need for a budget amendment to reflect the change. The entire amount of the surplus generated for 2020-2021 in the debt service will be applied to the principal.

• Trustees unanimously approved the purchase of a 53-passenger bus to serve Special Education students. According to Mr. Andy Chilcoat, Assistant Superintendent for Auxiliary Services, the $101,663.00 bus gives the MISD Transportation Department a full fleet of Special Education buses.

The MISD Board of Trustees will hold their regular October meeting on Tuesday, Oct. 20, at 5:30 p.m. in the Pat Smith-Gasperson Board Room. There will be no Meeting for Agenda Review next month, as MISD will be closed for Fall Break Thursday, Oct. 15, Friday, Oct. 16, and Monday, Oct. 19.
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