BY ANGELA BONILLA & EMILY LINCKE
Magnolia ISD discusses tax rate election At an April 15 workshop meeting, the Mag- nolia ISD board of trustees discussed a possible voter-approval tax rate election ballot initiative, known as a VATRE, for the 2024-25 school year. The overview Assistant Superintendent of Operations Erich Morris said MISD is in good financial shape compared to other area districts. However, MISD could have a VATRE for three additional cents in the tax rate via voter approval. According to the Texas Education Agency, the first eight pennies above a district’s maximum compressed tax rate are referred to as “golden pennies” because it allows a district to generate higher levels of funding. Diving in deeper Morris suggested trying to capture the three
MISD superintendent finalist named The Magnolia ISD board of trustees named Jason Bullock the lone superintendent finalist, per an April 16 news release. The details Bullock will replace outgoing Superinten- dent Todd Stephens, who is retiring after serving since 2009. Bullock has served as the deputy superintendent in MISD since 2020, according to the news release. “I am incredibly honored to be chosen as [the] lone finalist for the superintendent position here in Magnolia ISD,” Bullock said via news release. “This is a special commu- nity filled with great people.” In compliance with state law, there will be a 21-day waiting period before the board can vote to offer Bullock a contract, according to the news release.
Magnolia ISD VATRE scenarios Assistant Superintendent of Operations Erich Morris suggested the possibility of a voter- approval tax rate election in November. 3-cent increase ($0.6969/$100 valuation) 4-cent increase ($0.7069/$100 valuation) $7,315,587 $8,294,243
10-cent increase ($0.7669/$100 valuation)
$14,128,272
SOURCE: MAGNOLIA ISD/COMMUNITY IMPACT
golden pennies via approval based on MISD’s projected property tax revenue of $76.5 million for the 2024-25 year under its maintenance and operations, or M&O tax rate of $0.6669 per $100 valuation. The full 2023-24 tax rate was $0.9638. For a VATRE to be approved, a governing body must hold the election on the uniform November election date of the applicable tax year, according to the Texas comptroller’s website.
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