COLUMBIA — The Columbia School Board on Tuesday morning unanimously approved a new tax increase for the Columbia School District.
The rate increase of 7.75 cents per $100 of assessed property value supersedes an increase of 14.7 cents that the board approved five days ago.
Last week's rate rise was calculated without including assessments against local railroads and utilities, which led to an overstated rate, according to County Assessor Tom Schauwecker.
The corrected rate means property owners will pay $4.85 per $100 of assessed value, up from the current rate of $4.77.
Residents are only taxed on about 19 per cent of a property's real value, which means a $100,000 property is taxed at $19,000 and the owner will pay about $922, a $14 increase.