What you need to know
The use of a VATRE has previously been recommended by Erich Morris, an assistant superintendent of operations in Magnolia ISD. Morris recommended the option during the board's July 22 budget workshop, as previously reported by Community Impact.
Trustees approved proposing a total tax rate of $0.9895 per $100 valuation, according to the board agenda. If the VATRE passes, that proposed total tax rate would go into effect and cost a homeowner about $8.21 more per month on a $328,068 house. If the VATRE fails, the tax rate would be $0.9595 per $100 valuation.
"Here we sit with no increase in money from the state, who provides us with a significant chunk of our budget. There's been no increase from them, and yet we're expected to perform, excel, and exceed with the same amount of money the state has given to us since 2019," Magnolia ISD board president Gary Blizzard said at the meeting.
Diving in deeper
According to the district's website, the VATRE would generate around $7.4 million in additional funding with $3.7 million in local funding and $3.7 million in state funding.
If passed, the district will use the additional funding to do the following:
- Increase teacher pay based on years of service to the district
- Create a loyalty program where teachers, school resource officers and hourly employees would be offered additional one-time pay increases based on their years of service to MISD
- Provide raises to SROs and add those positions to new schools
What's next
A public hearing will be held at 6:30 p.m. on Aug. 26 at the Magnolia ISD Event Center along 11659 FM 1488 in Magnolia, Texas. To learn more, visit the district's website explaining the VATRE.
This article comes from our ABC13 partners at Community Impact Newspapers