The Magnolia ISD board of trustees proposed an 18-cent decrease in the tax rate for the 2023-24 fiscal year at a budget workshop and regular meeting Aug. 14.

The overview

Assistant Superintendent of Operations Erich Morris said this is possibly the lowest tax rate in school history and the first time the tax rate has been under a dollar in several years.
  • The proposed tax rate is $0.9638 per $100 valuation.
  • In 2022-23, the tax rate was $1.1472 per $100 valuation.
  • The average taxpayer will be paying $800 less per year in property taxes.
What they are saying

"The tax rate being under a dollar is pretty remarkable," Morris said. "I'd really have to go back to the archives to find a time where we were under a dollar for tax rate purposes. This is good news."

The details


As of Aug. 14, Morris said the district also has a balanced budget.
  • Expenditures and revenue total $134.18 million.
  • Instruction is the largest expense at $80.69 million.
  • Curriculum and staff development decreased from $2.2 million in FY 2022-23 to $1.4 million to FY 2023-24.
  • Instructional leadership saw an increase from $1.7 million in 2022-23 to $2.6 million in 2023-24.
  • Last year’s general fund budget was balanced at $129.01 million.
However, MISD has not approved a teacher pay raise or stipend for the 2023-24 school year. According to a budget presentation during the workshop, district administration recommended freezing salaries and considering reaching into reserves for a one-time stipend. Different pay scenarios include:
  • Amending the budget and adopting a new compensation plan when funding is clearer.
  • Paying a one-time minimum retention stipend of $500 on Oct. 15.
  • Reviewing compensation plan scenarios, including teacher pay, veteran teacher pay and MISD teacher loyalty.
What’s next

A public hearing on the budget and tax rate will be Aug. 28 at 6:30 p.m at the Magnolia Event Center. The fiscal year will begin Sept. 1.