Socorro ISD board adopts tax rates and orders voter‑approval election to seek $49.2M annual revenue

Socorro Independent School District trustees adopted tax rates Thursday that preserve the district’s overall tax rate while setting in motion a voter‑approval election to allow the district to collect additional maintenance‑and‑operations revenue if voters approve.

The board approved a maintenance‑and‑operations (M&O) tax rate of 78.89¢ per $100 valuation and an interest‑and‑sinking (I&S) rate of 27¢ per $100, yielding a total tax rate of $1.0589 per $100 valuation. The board then adopted the required resolution and voted to call a voter‑approval tax rate election for Nov. 4, 2025, as required by state law because the proposed rate is higher than the voter‑approval threshold.

Why it matters: Administration estimates the full 12‑penny voter‑approval option could unlock roughly $49.2 million in additional annual revenue if voters ratify the higher M&O rate. District officials said recent state legislative changes to homestead and business property exemptions reduced the district’s taxable base; the district used the higher exemption values (as required for calculation) when computing compressed tax rates and the voter‑approval threshold.

CFO David Solis presented the legal timeline and tax…