Vernon Independent School District voters can choose to generate an additional 1.3 million dollars, increasing its total tax rate by $0.03 from 2013, by approving a tax rate swap in a Tax Ratification Election (TRE). The tax rate swap raises the M&O tax rate $0.13 and drops the I&S tax rate $0.10.
The board adopted a $1.17 per $100 valuation tax rate on July 21, 2014. The $1.17 is $0.13 higher than the rollback rate. State law required the school board to call the TRE.