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Midway ISD trustees set 2025-26 tax rate after hearing on property values and budget pressures
Summary
Trustees heard a finance report showing a 4.6% decline in taxable property values, learned the district—s adopted budget began with a $3.5 million deficit that carries forward to $4.2 million after authorized project carryovers, and approved a combined tax rate of 93.69 cents per $100 valuation.
Midway Independent School District trustees on Tuesday received a fiscal briefing showing a year-over-year decline in net taxable property values and approved the district—s tax rate for fiscal 2025-26.
Wesley Brooks presented the monthly financial report for July, the first month of fiscal 2025-26. He said the district—s certified net taxable property value dropped about 4.6% from 2024 to 2025, a decline Brooks attributed mainly to an increase in the homestead exemption and an unusually high number of property protests that led to appraisal reductions. Brooks said commercial and industrial property…
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