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Lower school tax rate will raise more dollars

September 7, 2010

A lower property tax rate will generate more in property tax revenues to support the 2010-11 Boone Central Public Schools budget.

Several factors will allow the school district to reduce its tax levy this year, according to Superintendent Cory Worrell.

First, the district’s valuation increased this year by $75.2 million to a total of $638,989,342. This is an increase of about 13.3 percent over last year’s total valuation of $536,759,550.

Also, final payment was made in August on one of the school’s two bond funds, which originated in 1996.

“We are now levying only for the 2003 bond,” said Superintendent Worrell. “We hope to also pay off that bond at the end of the 2010-11 budget year.”

The total school tax rate will decline by about five cents per $100 of valuation.

Details in the Sept. 8 Albion News Print and Electronic Edtions.

Written by jdickerson · Filed Under News