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Magnolia ISD projects balanced budgets while weighing HB 2 teacher pay pass-through and property-tax exemption impacts
Summary
District staff briefed trustees on HB 2 teacher pay provisions, internal compensation proposals, operating costs for two new secondary schools, and how recent state exemptions will compress taxable growth and affect tax-rate calculations.
Magnolia Independent School District staff told trustees the district is projecting balanced budgets across its three primary funds but faces constrained new revenue after the state’s HB 2 teacher pay provisions and recent property-tax exemption increases.
Eric, the district presenter, summarized state funding under HB 2 and how it affects local budgeting. He said the state’s largest item was a teacher pay increase pass-through: districts with fewer than 5,000 students get $4,000 for eligible teachers and districts with 5,000 or more receive $8,000 as a pass-through fund. “As a reminder, HB 2, the school funding bill that will dictate our funding for the next 2 years. The largest item was the teacher…
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