Two tax rates combine to make a school tax rate. The first tax rate is the maintenance and operations (M&O) tax rate. Manor ISD’s currently proposed M&O tax rate for 2024-2025 is $0.7113 and is used to fund day-to-day operations such as payroll costs, utilities, and maintenance of schools and facilities. Approximately 94% of the district’s Maintenance & Operations (M&O) tax revenue is dedicated to funding staff salaries.
The second part is the debt service tax rate for 2024-2025, currently proposed to be $0.3701. It may only be used to pay for district bonds that fund construction and one-time purchases such as technology, buses and equipment with a useful life of more than one year. The bonds that are funded by the debt service tax rate are much like the mortgage on a home, but in Manor ISD have historically been paid back more quickly to reduce interest costs.
The two rates combined make up the current Manor ISD tax rate of $1.0814 per taxable $100 for the 2024-2025 school year, which is the lowest tax rate the district has had since 2015.
An important note is that the $1.0814 tax rate for 2024-2025 depends on Prop A’s approval, which would be lower than the district’s $1.0861 tax rate for 2023-2024.