Two tax rates are combined to make up the school tax rate. The Maintenance and Operations (M&O) rate, currently $1.04, is used to fund the day-to-day operations of the district like payroll costs, utilities, and maintenance of schools and facilities; the M&O fund is often referred to as the general fund.
Second, the Interest and Sinking (I&S) rate, currently $.39, can only be used to make payments on district bonds that fund construction and other specific items like technology and buses, much like the mortgage on a home. The I&S rate is often referred to as the debt service fund.
The two rates combined make up the current Klein ISD tax rate of $1.43.
