Mexia ISD set to lower overall tax rate

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With classes for the new school year set to start Monday, Mexia ISD trustees last night met to set the budget and tax rate for 2013-14.
The proposed tax rate was adopted by the MISD board in a special meeting Aug. 12, and a public hearing was set for 5:45 p.m. yesterday, with a special meeting immediately following at 6 p.m. to adopt the tax rate and new $16.262 million budget.
The budget is an increase from last year’s $15.5 million. The difference comes from an increase in state funding and about $150,000 more in local tax revenues due to increased property values.
The district proposes no change in the $1.04 per $100 in valuation rate for
The proposed budget no change in the $1.04 per $100 in valuation rate for Maintenance & Operations, but due to an increase in the total value of taxable property in the district since last year, that same rate will yield a 4.44 percent increase in revenue.
Interest & Sinking costs (debt service on major projects) will actually decrease by 5.20 percent compared to last year, with a rate of .0716 per $100 in valuation proposed, a drop from the .0819 per $100 valuation rate last school year.

To read more, pick up a copy of Saturday's The Mexia News, or subscribe to our e-edition.