Tax Rate

On Aug. 29, 2016 the MISD Board of Trustees adopted a tax rate of $1.33 per $100 valuation for the 2016-2017 school year. The tax rate can be broken down into two separate rates:

   • Maintenance & Operations rate - $1.04
   • Interest & Sinking rate - $0.29

The rates are also commonly referred to as M&O and I&S. Although the rates are combined to arrive at the total tax rate, the rates are set for very specific and different purposes.

The M&O portion of the rate is set to provide funds for the maintenance and operations costs of the district. Maintenance and operations costs include things such as:

  • Compensation and wages paid to employees
  • Supplies and materials needed in every functional area of the district
  • Maintenance and repairs to facilities, equipment,vehicles and any other property owned by the district
  • Payments for utilities such as electricity and water
  • School buses and fuel to transport students
  • Technology and computers used by staff and students throughout the district
  • Library books

The I&S portion of the tax rate provides funds for principal and interest payments made on the debt that financed the District's facilities. [CLICK HERE FOR MORE ON BOND PROJECTS]

For more information on these specific tax rates, please contact the Department of Business and Financial Services at 903-927-8708.