From the Vincennes Sun-Commercial:
Don’t be alarmed.
That’s the advice Darrel Bobe, superintendent of the North Knox School Corp., has for property owners in the district when they read in The Sun-Commercial what the school’s advertised tax rate will be for next year.
It will be almost double what it is now — $1.12 per $100 of assessed value compared to the current rate of 65 cents.
But that’s not what the rate will eventually be, Bobe assures property owners, only an advertised rate.
He said advertising a high rate is like an insurance policy protecting the corporation’s total tax levy, the total amount of property-tax money it needs to fund specific school operations such as capital improvements and transportation.
He said the tax rate will not be “even remotely close” to the $1.12 advertised.
Bobe said the closest it would get would be about the 70-cent range thanks to the corporation’s assessed valuation.
“That’s still lower than anybody in the county,” Bobe said. “We’re proud of that. Especially when you look at what we’ve done over the last three years by cutting 17 percent out of the budget, that’s something you can hang your hat on.”
For the general fund North Knox is advertising $9.3 million.
Again Bobe said he doesn’t believe the school corporation will get anywhere near that amount. He said a more likely figure would be around $8.4 million.
General fund money comes from the state and is primarily based on enrollment.
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http://suncommercial.com/articles/2012/08/08/news/local_news/doc5023206004113169366030.txt
