MARIETTA, Texas—The Marietta Independent School District will close and consolidate this fall.

It is the rarest of ironies that on one level the school had to close because it was too wealthy.

“With an annual tax income of some $165,000 but only 19 students enrolled for the fall, that would have made us a Chapter 41, or wealthy, school district when considering tax amount per child,” said Audrey Knight, Marietta school business manager.

“The state informed us it was considering withholding some of its state support, which would then mean we would not be able...

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