Texas’ new school finance legislation meant mixed news for the San Marcos CISD budget for the 2019-2020 school year. The district will still have a deficit budget, but the deficit is smaller than initially anticipated, and the district is no longer in recapture.
At a budget workshop meeting Monday night, SMCISD Assistant Superintendent for Business and Support Services Karen Griffith showed what the passage of House Bill 3 and Senate Bill 3 means for the district.
“Our M&O tax rate is going to change,” Griffith said. The district’s M&O, or maintenance and operations, tax rate is currently at $1.06 per $100 valuation; that will go down to 99 cents under the new school finance legislation.
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