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TAX RATE GOING UP IN LOYAL
Thursday, November 1st, 2007 -- 1:31 pm
Posted by Riley Hebert-News Director
Another area school is taking advantage of a "hold harmless" provision in the state budget that allows them to raise more property taxes.
When superintendents put together school budgets this summer, they anticipated the legislature would include a 75-percent hold harmless provision for every student lost from the prior year; actually, the budget has a 100-percent hold harmless provision.
That allows districts to raise more money through property taxes.
As we reported yesterday, the Neillsville school board elected to take advantage of the provision when they finalized their levy this week.
Loyal's board also made the move this week.
While it will lead to more money for the school, it will also add extra burden to property owners. The tax rate is slated to jump 36-cents from last year to $8.68 per thousand dollars of property.
When the budget was presented to taxpayers in September, school officials had projected a decreased tax rate.
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