Magnolia ISD’s proposed tax rate and plans for a new elementary school will be discussed at the board of trustees’ Aug. 10 workshop and regular board meeting.
Items worth mentioning
The proposed tax rate is currently $0.9325 per $100 valuation of a home, consisting of a $0.6399 maintenance and operations tax rate and $0.2926 interest and sinking tax rate.
M&O is a portion of the tax rate that districts commonly use to fund day-to-day operations and general expenses, while I&S represents the debt service portion of a local school district's property tax, which is used to fund the principal and interest payments for voter-approved bonds.
According to meeting documents, the current proposed date for the public tax hearing is at 6:30 p.m. Aug. 24 at the Magnolia Event Center, located at 11659 FM 1488, Magnolia.
Also of note
MISD’s board will review a presentation for the proposed architect design plans for Elementary School No. 10.
The new elementary school is a $53.97 million project slated to open in August 2028, as previously reported by Community Impact. This project is a portion of the $465.6 million bond package that passed in May. Meal prices for the upcoming school year and the student code of conduct are also on the agenda for board consideration.
To view the full agenda for both Aug. 10 meetings, check here and here, respectively.
