loader image
- Advertisement -

Friday, May 24, 2024
93.2 F
McAllen
- Advertisement -

Great News: McAllen ISD reduces total tax rate for 2nd straight year

Translate text to Spanish or other 102 languages!

- Advertisement -
Image for illustration purposes only

Texas Border Business

- Advertisement -

The local total tax rate for property owners within McAllen ISD will be lowered following approval by the McAllen School Board at a regular meeting held September 14.  

The overall total tax rate will be reduced by nearly 1 and a half cents per $100 of property valuation, saving a family with a $100,000 home approximately $14 per year.   

This new tax rate is set for the 2020 tax year. 

- Advertisement -

The Truth-in-Taxation, a guide for setting the district tax rates (Texas Property Tax), the Texas Education Code and School Board Policy require local education agencies, like McAllen ISD, to set the tax rate for the current tax year.  

The current 2019 tax rate for Maintenance and Operations (M&O) is $1.0586 and the Debt Service tax rate is $.0942. The combined tax rate for tax year 2019 is $1.1528.   

House Bill 3 and Senate Bill 2, as passed by the 86th Legislature significantly changed the tax rate adoption process for Texas public school districts and has created a requirement for all districts to compress their tax rates. 

This resulted in a reduction of the M&O tax rate; therefore, the total adopted 2020 M&O tax rate for McAllen ISD is $1.0450, and the Debt Service tax rate is $.0936. The combined tax rate for tax year 2020 is $1.1386. 

- Advertisement -
- Advertisement -
- Advertisement -

Latest News

More Articles Like This

- Advertisement -