The Midway Independent School District Board of Trustees officially adopted the tax rate for the 2024-25 fiscal year during their regular August meeting.
The newly adopted tax rate of $0.9369 per $100 of assessed property value is slightly lower than last year’s rate and includes $0.6969 for the Maintenance & Operations (M&O) fund and $0.24 for the debt service fund.
"The adoption of this tax rate is a crucial step in ensuring that Midway ISD can continue to provide high-quality educational opportunities for our students while maintaining fiscal responsibility," Midway ISD Superintendent Dr. Chris Allen said . "This rate maintains our operational needs and provides sufficient funds to manage our bonded debt effectively, including the potential for early payoff of a portion of our outstanding bonds."
The approval of the tax rate is the final step in the process of setting the district’s budget, which was initially approved at the June board meeting.
