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London ISD board sets tax rate at $1.1669 per $100, splits M&O and I&S
Summary
Trustees voted to establish a tax rate of $1.1669 per $100 of valuation for 2024-25, allocating $0.66690 to maintenance and operations and $0.50000 to interest and sinking; the motion was moved by Trustee Jessica Gutierrez and seconded by Trustee Neal Daniels.
The London ISD Board of Trustees established a tax rate of $1.1669 per $100 of assessed valuation for the 2024-25 tax year at its Aug. 26 special-called meeting.
"A motion was made that the Board of Trustees establish a tax rate of $1.1669 per $100 in valuation consisting of $0.66690 for maintenance and operations and $0.50000 for interest and sinking," the meeting record states; Trustee Jessica Gutierrez moved the rate and Trustee Neal Daniels seconded. The motion carried.
The adoption sets the district's maintenance and operations (M&O) levy at $0.66690 and the interest and sinking (I&S) portion at $0.50000 per $100 of valuation. The transcript records the board's action as "motion carried" and does not include a roll-call breakdown of votes. The meeting record does not list projected revenue totals tied to the new rate.
