MCCSC’s overall 2013 tax rate is expected to slightly increase next year, but there might be a slight decrease in next year’s referendum tax rate. Comptroller Tim Thrasher presented the Monroe County Community School Corp.’s 2013 projected budget during a board work session Tuesday.
The district’s proposed general fund is budgeted at approximately $66 million, up slightly from $65 million approved last year.
According to the projected budget, the advertised 2013 tax rate is 72.42 cents. However, Thrasher estimates the final tax rate to be 68.51 cents, which would equal a 3.4 percent increase, or 2.26 cents per $100,000 in assessed property value.
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The increase, according to Thrasher, is due, in part, to the district’s efforts to restore the capital projects fund budget back to 2011 budget amounts; a $440,000 payment for the one-to-one technology bond that will be sold this week; and a one-time payment of $286,000 the district borrowed from the state to compensate for a capital projects fund cut.
Although a slight, overall increase is projected, the district’s referendum tax rate could be lower than the published rate of 14.02 cents.
The proposed budget has approximately $7.2 million of the referendum fund appropriated for 2013, compared with $6.4 million appropriated last year.
According to Thrasher, a change in legislation allows the district to put TIF district-assessed valuation into the formula to calculate the tax rate in the referendum fund this year, which would raise more money than the district originally asked for.
Therefore, Thrasher will recommend the board lower the referendum tax rate from 14.02 cents to 12.8 cents.
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http://www.heraldtimesonline.com/stories/2012/09/05/schoolnews.mccsc-board-reviews-2013-tax-rates-at-budget-work-session.sto
