O’Donnell Independent School District board members lowered the tax rate and approved the 2020-2021 budget during their Aug. 27 meeting. Board members approved a $6,128,821 budget. The amount is a decrease of $74,000 from the previous budget, said Superintendent Dr. Cathy Palmer. The board also set the new tax rate at $1.38140 per $100 valuation, a penny less than the previous rate. The rate is made up of 38 cents for Interest and Sinking (I&S), a fund which pays for the districts bonded indebtedness, and $1.00140 for Maintenance and Operation (M&O), an account covering the district’s expenses. The district had a total tax ...