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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 continues to grow (commercial properties account for nearly 60% of the district—s taxable value, he said) while residential values declined. Brooks identified the district—s top taxpayers as Amazon ($378,000,000) and Graphic Packaging (about $266,000,000, still under construction), among others.
Brooks also noted the district—s adopted budget included a $3.5 million deficit approved in June for fiscal 2025-26; after carrying forward incomplete projects (for example, roofing and access-control work) the deficit begins the year closer to $4.2 million. He said the district—s weighted average daily attendance (WADA) is roughly 11,000 and that budgeted WADA was essentially rolled forward from the prior year because enrollments were flat.
During a required public hearing on the proposed tax rate, trustees received no public comments. The board approved a motion reflecting the required statutory language to adopt an M&O rate of 69.69 cents and an I&S rate of 24 cents for a combined tax rate of 93.69 cents per $100 of valuation; trustees recorded a unanimous vote on the motion.
Context: The administration and multiple board members noted the district has lowered its overall tax rate by 38 cents since 2018 and that recent years— tax compression and rising commercial values have shaped levy patterns. Trustees said deferred facility needs and technology maintenance remain under discussion; the board agreed to convene a special-call meeting on Monday to consider whether to place a bond election on the November uniform election date.
Ending: Trustees adopted the tax rate formally in open session; administrators said they will continue to monitor property values, WADA, and budget amendments as the fiscal year progresses.
Sources: Presentation by Wesley Brooks and public hearing during the regular board meeting.
