From the News and Tribune:
"The chief business officer for New Albany-Floyd County Consolidated School Corp. has a message for the county’s taxpayers: If their taxes go up, it’s not the fault of the district.
Fred McWhorter said according to his data from the Indiana Department of Local Government finance, the tax rate from the schools is expected to drop by about 10.4 percent — or about 12 cents for every $100 of assessed valuation on property taxes — at the district’s board of trustees meeting Tuesday night.
“Overall, I think it’s going to be good for the community,” McWhorter said. “We really are cognizant of how we impact the community as a whole as well.”
Trish Byrd, Floyd County assessor, said the final numbers on tax rates from the state have not come in to her office yet, but she expects them by the end of this month or early in April.
McWhorter said the reason for the expected decrease in tax rates from the district come from three sources — the payment of debt, a decrease in the district’s capital projects fund as well as its bus replacement fund.
According to a presentation Monday night, the district got $3,790,725 less in their capital projects fund — which goes to building and maintenance projects — than they initially advertised. McWhorter said that came from a change from a lawsuit from a school district against the DLGF for incorrectly calculating the CPF fund for districts in the past.
They also got $1,909,832 less in their bus replacement fund. McWhorter said that change was due to a cap placed on bus replacement funds by the state legislature.
But he said the district could have sought a $500,000 loan from the state to make up some of the difference in their CPF. He said they decided against that to help the taxpayers instead.
With all of that factored in, he said this has been the lowest tax rate from NA-FC schools since 2009."
http://newsandtribune.com/floydcounty/x1940317099/NA-FC-tax-burden-could-be-lower-for-taxpayers
