• Financial Impact

    Issuance of the bonds, if approved in the November bond election, would result in a projected increase in the I&S tax rate for debt service of $.0959. As an example, for a home with a market value of $300,000, that would result in a monthly increase of approximately $19.58. However, because of the reduction of the M&O tax rate equal to $.07 because of new legislation, the net tax rate increase will be $.0259; therefore, the net monthly impact or increase on a home with a market value of $300,000 would be approximately $5.29. See the tables below that break down the tax impact by home valuation.

    It is important to note that this is happening with a tax rate that has not increased in ten years. MISD’s maintenance and operations (M&O) tax rate has been $1.04005 from 2008 - 2019. That places us below Ector County ISD, Amarillo ISD, Lubbock ISD, and San Angelo ISD rates for the previous year. Since July 1, that rate has dropped by $0.07 to $0.97005. Our interest and sinking (I&S) rate has been on a steady decline during the same period: from $0.12500 in 2008 to $0.0800 in 2018.

    Midland ISD Homeowners Tax Impact 1

    Midland ISD Homeowners Tax Impact 2
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