In a nutshell
MISD is facing an expected budget shortfall ranging from $3.7 million-$5.7 million for fiscal year 2024-25, according to a May 7 special meeting presentation by Superintendent Mark Ruffin. If approved, a VATRE could bring in between $1.4 million-$9 million more in total funding annually, depending on how much of a tax rate raise the district decides to pursue.
If a board of trustees approves a tax rate above the voter-approval tax rate, voters then must consider the tax rate in an election, according to the Texas comptroller’s website. A VATRE must be held on “the uniform election date in November of the applicable tax year,” according to the comptroller's website.
Trustees unanimously approved the efficiency audit with trustee Trey Kirby absent.
Quote of note
“[A VATRE] also gives us funds on every additional student that comes in, so if the growth comes like they're projecting, we'll benefit even more with new students than we do currently,” Chief Financial Officer Ben Davidson said.
Also of note
On May 7, trustees also discussed putting out a community survey on a potential MISD VATRE to see what amount of a tax rate increase the community would be open to.
Stay tuned
MISD trustees have not yet considered tax rates for fiscal year 2024-25 and typically approve annual tax rates in August. MISD’s total tax rate for FY 2023-24 is $1.0487 per $100 valuation.
