During the August 8, 2022, Board meeting, the Magnolia Independent School District (MISD) Board of Trustees voted unanimously to call for the $232 million bond referendum to be included in the November 8, 2022, general election. The ballot will consist of two propositions totaling $232 million.
There is no tax rate increase if voters approve both propositions.
The district has positioned itself financially by lowering the tax rate over each of the last four consecutive years and saving over $45 million in interest through the bond defeasance plan. MISD currently has the lowest voter-approved debt per student in the area, positioning the district for the November bond and future bonds.
MISD residents 65+ have their MISD tax bill frozen.
Magnolia ISD's bond referendum will not increase the property tax rate for homeowners or businesses or for residents 65 and older who have a homestead exemption. However, state law requires all bond referendum propositions to include ballot language that reads "THIS IS A TAX INCREASE."
Passage of the bond package will not result in an increase in the property tax rate, despite the ballot language stating that there will be a tax increase. The MISD Board of Trustees voted on August 22 to lower the MISD tax rate by $0.04.
Your tax bill may be higher due to an increase in your property value, not an increase in the school district tax rate. Property appraisals are set by the county appraisal district, and home values have risen across our region.