Security a priority in potential MISD tax rate hike From the cover
The context
Funding district needs
MISD’s efficiency audit compared its budget to 10 peer districts and districts across the state. Revenue per student Expenses per student Funding and expenses per student
Should the VATRE be approved in November, it would generate:
On Aug. 19, MISD trustees added the VATRE to the ballot and approved the FY 2024-25 total tax rate. The total tax rate—which includes the VATRE—is $1.0912 per $100 valuation, which is a 4.1% increase from the previous fiscal year. Other Houston-area school districts are facing FY 2024-25 budget shortfalls, and a few have also responded by calling for VATREs. On Aug. 13, Spring ISD trustees called for a $20.1 million VATRE for November as the district faces an almost $12 million shortfall, as reported by Community Impact . Meanwhile, Magnolia ISD does not face a budget shortfall, but trustees called a $7.4 million VATRE on Aug. 12 to help fund teacher raises. Per Ruffin’s Sept. 23 presentation, if MISD’s VATRE is approved, the funds could be used to: • Keep teacher salaries competitive • Offer incentives for positions that are difficult to hire • Maintain student programs such as the Dual Language Immersion Program • Help pay for armed campus officers required under House Bill 3, which was approved June 2023 by the Texas Legislature • Maintain student technology monitoring initiatives During an Aug. 19 board meeting, trustee Elizabeth Ivey said MISD can’t compete with other districts that host “giant recruiting events” or focus on recruiting teachers before they graduate. “That’s not something that we’re able to do right now in a $4 million deficit,” Ivey said. “We can’t implement these strategies, and we’re just going to grow. So our ability to recruit new teachers into our district is extremely important and something we really need to prioritize.”
$5.5M annually
$4.7M in local revenue
$820K in state revenue
+$437
$15K
+$161
MISD has pegged the FY 2024-25 VATRE revenue for: 80% for covering the
-$458
$10K
$4.3M FY 2024-25 budget shortfall and for teacher retention and recruitment 10% for maintaining student programs 10% for safety and security
$5K
$0
MISD 10-district average
State average
The taxpayer impact
If approved, MISD’s VATRE would cause homeowners’ tax bills to rise. Homeowners over age 65 will not see an increase.
Taxes without VATRE:
Average appraised home value in Montgomery ISD’s boundaries
$350,000
($1.0412 per $100 valuation) X $250,000 = $2,603 annually Taxes with VATRE: ($1.0912 per $100 valuation) X $250,000 = $2,728 annually
- $100,000
Homestead exemption
= $250,000
Average net taxable home value
Montgomery ISD property tax rate (per $100 valuation)
The FY 2024-25 tax rate is dependent on whether a voter-approval tax rate election is approved Nov. 5.
$2.00
$1.34 $1.37 $1.37 $1.37
$1.3075
$1.26
$1.50
$1.00
$1.2798
$1.2289
$1.0487 $1.0912
$0.5
0
2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 2024-25
SOURCES: MONTGOMERY ISD, TEXAS EDUCATION AGENCY, WHITLEY PENN/COMMUNITY IMPACT
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