Magnolia ISD reviews preliminary tax rate before official adoption

At the Aug. 10 regular meeting, the Magnolia ISD board of trustees reviewed the district's proposed tax rate presented by Erich Morris, MISD Assistant Superintendent of Operations.

The projections

As it currently stands, the proposed property tax rate for fiscal year 2026-27 is set to be $0.9325 per $100 of home valuation. The tax rate is broken down into two portions of revenue:

• Maintenance & Operations: $0.6399
• Interest & Sinking (debt service): $0.2926

An important factor for the new tax rate to the board was not allowing it to increase after passing a bond in May.

As previously reported, MISD passed a $465.6 bond to help address district overcrowding and purchases. As part of the approval process, MISD made promises to district parents that the new bond would not lead to a tax increase the upcoming year.

The current tax rate proposal is lower than the $0.9583 rate in FY 2025-26.

During the presentation, Morris clarifies that the proposed tax was not a formal adoption. The official vote to decide the rate will be held on Aug. 24 at the Magnolia Event Center.