hi Big Texan, nice to have you on board, by the way!
I personally don't think it matters that much, unless you're getting a noticeable buzz from the ripped area as you beat the snare, it's only there to dampen it a bit if I recall. I have a feeling I took mine out when I did the mesh conversion on some of my heads. If it bothered you, usually those paper rings are just slightly glued at a few points so they come out easily.. you can tape it, or replace it (or cut your own out of a similar paper like the type you get at craft stores for kids to colour on). Heck, you could probably even just trim that inside area a couple inches to get rid of the rip and it'll still do whatever job it's meant for.