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Moody ISD trustees adopt 1.048200 property tax rate, citing a 2.84% increase
Summary
The Moody ISD Board of Trustees voted unanimously Aug. 26, 2024, to adopt an M&O rate of 0.75520 and an I&S rate of 0.29300 for a total property tax rate of 1.048200, described in the motion as effectively a 2.84% increase. The motion was made by Trustee Newman and seconded by Trustee Goodwin.
Following a public hearing on the proposed tax rate, the Moody ISD Board of Trustees approved a motion to set the 2024'25 property tax rate at a combined 1.048200. Trustee Newman moved "to move that the property tax rate be increased by the adoption of an M&O tax rate of 0.75520 and an I&S tax rate of 0.29300 for a total tax rate of 1.048200, which is effectively a 2.84 percent increase in the tax rate," and Trustee Goodwin seconded.
The motion carried with all trustees voting in favor: Fairey, Flynn, Foster, Goodwin, Newman, Petree and Smith. The minutes record the specific rate values and state the change is effectively a 2.84 percent increase; the minutes do not provide estimates of the revenue impact or the effect on an average taxpayer.
The adopted rates are the district's official M&O (maintenance and operations) and I&S (interest and sinking) components for the 2024'25 tax year. The minutes do not list any dissenting comments or amendments to the proposed rates.
