Voters approve MFISD tax shift
August 25, 2012, 8:15 pm by Adam Troxtell
Voters passed a Marble Falls ISD tax ratification that
lowers the amount of taxes paid and provides the district
with more revenue, according to unofficial results.
The tax shift passed 269 to 104, with 236 taking part in early voting and 137 voting on election day Saturday.
The district can now go ahead with a planned tax shift that takes 2.33 cents from their interest and sinking tax rate and moves 1.33 cents to maintenance and operations (M&O). This equates to an overall school tax decrease of a penny, from $1.29 to $1.28.
Marble Falls ISD will now receive a much needed $400,000 boost to their operating funds, after that amount was announced as a budget deficit by school officials last week.
Since their M&O tax rate will go above $1.04 to $1.0533, the state mandated Marble Falls ISD hold an election to approve the tax shift.
For the full story, see Tuesday’s Highlander.
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