MILLSAP – Millsap ISD board of trustees adopted a decreased tax rate during their meeting on Monday evening at the Millsap Administration Board Room/Media Center.
The total adopted tax rate is $1.47055 per $100 valuation, which includes a maintenance and operations rate of $1.06835 and an interest and sinking rate of $0.4022. The total rate is a decrease from last year’s rate of $1.5922.
MISD Superintendent Deann Lee said this is the third year in a row that the district has lowered the tax rate.
The adopted tax rate is above the effective rate, Lee said.
“This is expected because [state school finance law House Bill 3] mandated pay increases and raised the state minimum salary scale,” Lee said. “The effective rate is the rate to maintain the same level of revenue as prior year. The district could not give the mandated raises at the same level as prior year.”
This year, taxpayers will pay $1,470.55 per $100,000 valuation, which is $121.65 less than last year, Lee said.
The tax rate funds a balanced general fund budget of about $12.39 million, an increase of about $2.2 million from last year. The budget was also adopted by trustees during the meeting.
Trustees approved the Millsap ISD compensation plan and salary schedules. Staff in the teacher, nurse and librarian category will get pay raises in the range of 14.6 to 18.3 percent, Lee said. All other staff will get an 8.5 percent increase. While HB 3 required $442,546 be spent on MISD increases, the district more than doubled that amount by increasing compensation and benefits by $981,818.
MISD is also offering many benefits to staff like increasing the district’s contribution to health insurance, staff attendance incentives and giving each teacher $100 to use in their classroom, Lee said.
The district is also providing a matching 457 retirement plan, in which MISD will match up to 1 percent of an employee’s contribution, MISD Chief Financial Officer Kim Alexander said.
“As far as coming to Millsap, it used to be we lost a lot of teachers to other districts because of pay, and we’re getting much more competitive to the area districts,” Board President Dene Herbel said.
The next Millsap ISD meeting will be on Sept. 23.