The Maintenance and Operations rate is $1.09 while the Interest and Sinking is set at $0.29, together creating a $1.38 total tax rate.

The rate dropped two cents from last year, marking the second year in a row that the district tax rate dropped from the previous year.

“Since last year there’s relatively few changes, besides some raises that were state-mandated,” said Erich Morris, Chief Financial Officer for MISD.

The total budget including the general fund, the debt service fund and the food service fund is $100,724,743.

Approximately 65 percent of the general operating budget is dedicated to instruction and instructional administration.

Morris said the drop in tax rate was “expected.”

“Property values went up so we didn’t have to tax as much,” he said.

According to the district, overall property values increased by 11 percent this year.

Morris added that the total budget this year is the largest in the district’s history.

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