Here’s everything you need to know about Magnolia ISD’s upcoming VATRE

To improve teacher retention and provide raises for school security guards, Magnolia ISD will hold a tax exemption election on November 5.

A voter approval tax rate election (VATRE) is an election in which voters are asked whether they allow the school district to use the maintenance and operations tax rate to generate additional local and state funds.

School board members have approved an overall tax rate of $0.9895 per $100 of valuation. If the township rejects the VATRE, the tax rate will be $0.9595 per $100 of valuation. Residents age 65 and older will not be affected by the increase if the VATRE is passed because their ISD tax rate is frozen.

“We are asking for an additional three cents to support salary increases for teachers, police officers and hourly wage workers so we can keep pace with inflation and partially close the wage gap with neighboring districts,” said Superintendent Jason Bullock.

A VATRE differs from a school bond in that it does not create debt for the school district. It generates money at both the local and state levels for the day-to-day operations of the district.

This increase would generate a total of $7.4 million – $3.7 million from local funds and $3.7 million from state funds.

“A VATRE increases the tax rate and that raises money every year,” Bullock said. “We can spend the money on ongoing costs and it doesn’t add to the county’s debt.”

If voters approve the election, the funds will be used for the following purposes:

• Give all employees, including support staff, a 4% salary increase
• Support security initiatives, including increasing officers’ salaries
• Create a loyalty rewards system to reward long-standing employees

Bullock said the district has a 20% teacher turnover rate and that VATRE funding is aimed at addressing that problem.

“Over the last few years, our teaching staff has gotten younger,” Bullock said. “As teachers have more years of experience, they have moved to neighboring districts because they can make more money there. Our vision for this local tax election is that we use these funds to fill that gap and hopefully entice some of the people who have left this district to come back.”

If voters approve the choice, VATRE funding will also support the future growth of Magnolia ISD.

“More and more families are choosing Magnolia ISD for their children,” Bullock said. “This year we are opening our ninth elementary school. Next year we will open our third middle school and third high school. We are actively planning for growth and trying to get ahead of it and be prepared when it happens.”

In June, Magnolia ISD launched a “Money Matters” information campaign to break down complex school funding formulas and explain the impact of state decisions on local school districts. For more information on public school funding, visit this website.

Early voting will take place at every polling place in Montgomery County between October 21 and November 1. For more information about VATRE, visit www.magnoliaisd.org/district/vatre-2024.

The above story was produced by multiplatform journalist Mary Katherine Shapiro along with Community Impact’s storytelling team, with information provided solely by the local business as part of a “sponsored content” purchase through our advertising team.