During the board of trustees meeting Aug. 23, district officials voted to reduce the district’s interest and sinking, or I&S, portion of the property tax rate by 5 cents.

The district’s maintenance and operations, or M&O,  portion of the tax will stay $1.17. The interest and sinking tax rate will drop from $0.50 to $0.45. Both rates combined equal the districts total tax rate of $1.62 per $100 property valuation.

MISD officials said in May they would be lowering the tax rate by 4.5 cents and stated Aug. 23 the additional 0.5 cent decrease in the tax rate comes following the Collin Central Appraisal District’s certified property values report in July, which district officials said exceeded estimated values report issued in the spring.