COLUMBIA — A proposed school tax rate increase would raise taxes in Columbia to $4.814 for every $100 of assessed property.
Currently, a homeowner pays $4.729 for every $100 of assessed value in school district property tax. Under the proposed rate increase, a home with an estimated value of $100,000 would see its school district property tax rise by $16.21, said Linda Quinley, business services director of Columbia Public Schools.
Public Hearing on the Columbia Public Schools proposed tax rate increase:
- When: 7:30 a.m. Thursday
- Where: Columbia School Board office, 1818 W. Worley St.
A public hearing on the proposal will be held at 7:30 a.m. Thursday at the School Board office.
"School districts need to keep substantially the same revenue" from year to year, Quinley said. She estimated the district has lost $650,000 during the 2007-08 school year from Proposition C, the state's sales tax for education. Adding to this, Columbia lost an estimated $31 million in lower than expected assessed valuation of existing property, Quinley said. Overall net assessed increased by $9 million, Quinley added, because of the new construction addition.
The school system is hoping the rate increase will yield "$1.1 million into the operating budget we had not budgeted for," Quinley said.
After the public hearing, the board will then decide whether to accept all or part of the rate increase. Following approval by the board, papers will be filed with the auditor's office, and homeowners will be required to pay the new tax as part of their 2009 property taxes.