During the August 28 special board meeting, the Board approved a decrease of 18 pennies in the ISD tax rate to $0.96, the lowest tax rate in over 20 years. The approved ISD tax rate is one of the few districts in the area and State under a dollar. This tax rate reduction is driven by the existing funding formula and new state of Texas legislation.  

Assistant Superintendent Dr. Erich Morris also presented a balanced 2023-2024 school year budget. While there is an increase in property values in our area, MISD does not see an increase in revenues due to the state’s funding formula. MISD is revenue neutral, and with the lowering of the ISD tax rate and no new revenue, the state makes up the difference, which equals the same amount per student since 2019. Although many districts around the state are adopting deficit budgets to give raises, the MISD administration will not put the district in that position. 

Dr. Morris stated, “We remain optimistic that our elected state officials will ultimately do what is right and pass a school finance bill this fall so we can afford adequate raises for all of our teachers and staff. We are prepared to make any budget amendments to provide pay increases should additional funds become available.”