The Northwest ISD board of trustees approved a maintenance and operations, or M&O, tax rate of $0.872 per $100 of assessed value and an interest and sinking, or I&S, rate of $0.42 per $100 of assessed value for fiscal year 2021-22 at its Aug. 23 meeting.
The total tax rate will add up to $1.292 per $100 of assessed value, NISD Superintendent Ryder Warren said at the meeting.
The I&S rate funds payments for bond debt acquired from funding the construction of schools and facilities, according to the Texas Education Agency. NISD's I&S rate remained unchanged from the previous year, while state officials calculated the M&O rate for the district, Warren said.
“The state has calculated—not that we did—but, truly, the state has calculated the [M&O] tax rate this year at 0.872 cents,” Warren said.
Northwest ISD held a bond election on May 1, 2021, voting on four propositions after only 28.71% to 44.08% voted in support of the same four propositions in November 2020. The May 1 election yielded enough support for three of the four propositions—Proposition A, valued at $712.4 million, which covers new schools and upgrades; Proposition C, valued at $5.7 million, which covers athletics facilities upgrades; and Proposition D, valued at $19.4 million, which covers technology upgrades.
