No MISD Tax Rate Increase
Public school taxes involve two components: Maintenance and Operations (M&O) is used to fund the day-to-day operations of the district. The debt service portion, Interest and Sinking (I&S), is used to pay for bonded indebtedness previously approved by voters.
The total tax rate for Magnolia ISD is $1.38 per $100 of certified property value. The 2015 bond proposal will not increase the Magnolia ISD tax rate. The projection to avoid an increase in the tax rate is based on the amount of the bond alongside conservative estimates of property value growth, bond interest rates, and reasonable amortization schedule.