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Bynum ISD board adopts 2024 ad valorem tax rate of $0.9952 per $100
Summary
The board unanimously adopted a 2024 property tax rate of $0.9952 per $100 of valuation (a 25.3243% increase), separately approving an M&O rate of $0.7552 and an I&S rate of $0.2400; the motion was moved by Kelly Cordell and seconded by Kristin McGinty.
At the Aug. 22 meeting the Bynum ISD Board of Trustees voted to adopt the district's 2024 ad valorem tax rate. Trustee Kelly Cordell moved "that the property tax rate be increased by the adoption of a tax rate of $.9952/$100, which is effectively a 25.3243 percent increase in the tax rate," and Kristin McGinty seconded; the vote was unanimous.
The board recorded separate motions to set the Maintenance & Operations (M&O) tax rate at $0.7552 and the Interest & Sinking (I&S) tax rate at $0.2400; those motions were approved unanimously. The minutes do not include the fiscal calculations or a breakdown of how the change will affect an individual taxpayer's bill.
