We know that those values set by Montgomery County Appraisal District (MCAD) were derived in a pre-pandemic era in which our local and state economy was thriving. While the district has no control of how your property values are determined, our Board of Trustees wants you, our taxpayers, to know that some relief is on the way in terms of an anticipated decrease in the MISD tax rate.
In 2019, the legislature helped districts across the state through House Bill 3 which allowed our Board of Trustees to lower the district tax rate by 7 cents bringing the tax rate to $1.3095/$100 valuation. Prior to last year, the Board had kept the district tax rate flat for many years. The Board of Trustees has always strived to be good stewards of your tax dollars.
This year, the Board is anticipating an additional 3 to 4 cent drop for tax the upcoming tax year 2020 based on the current MCAD estimated values. This would bring the tax rate down to the $1.2695 - $1.2795 level. This is at least a 10 cent drop in your ISD tax rate in two years. While the 2020 property assessments are subject to an appeal, the MCAD certified values are presented to the school district on or around July 25th. The certified value will then determine the school district tax rate to be adopted in August.
While the district does not have any control of the property values, the MISD Board has lowered the school district tax rate and will continue to lower the upcoming 2020 school tax rate. Our Board hopes this brings some comfort to our families and taxpayers during these unsettled economic times.