At the August 30th meeting of the NISD Board of Trustees, the school board voted unanimously to adopt a rate that does not increase the overall tax rate from last year. The overall tax rate for NISD will remain the same at $1.34.
The $18.6 million bond election from May came with a $.10 increase to the Interest and Sinking rate, but NISD was able to offset that increase with compression on the Maintenance & Operations rate. “Being able to pass the bond election in May and now see that it comes with a zero-cent increase to the overall tax rate is exciting! Being able to position our district and facilities to serve our students better while not burdening our tax base is the best of both worlds” said Superintendent Mark Ruffin.
In addition to the overall tax rate not increasing, taxpayers should know that they are also set to receive an increase of $15,000 to their homestead exemptions. Taxable values have obviously increased in our area, which was the driving force behind the compression of the tax rate, but Normangee ISD only has control over the tax rate that is set.