COLUMBIA — The Columbia School Board voted Thursday to decrease the Proposition C rollback on property taxes for this year. This means the owner of property valued at $100,000 will pay an additional $7.12, said Nick Boren, chief operations officer for the district.
The board voted to increase the district tax rate from $4.67 to $4.71 per $100 assessed valuation for the academic year 2007-08. Boren said the increase was needed to compensate for the loss of Proposition C revenue.
“It allows us to have a consistent budget from year to year,” Boren said.
Proposition C is the state’s one-cent sales tax dedicated to education and was approved by voters in 1982. Half the revenue collected from the Proposition C tax is intended to reduce or roll back property taxes. According to the 2007-08 school year budget, 59 percent of revenue will come from local sources. Property taxes will generate 41 percent of that figure, and Proposition C revenue will generate 7 percent.
Boren said last year’s rollback was about 36 cents, and this year’s rollback will be about 32 cents.
Unlike some districts, the Columbia district does not have a full or partial waiver of Proposition C, he said. In the 1990s, district voters twice rejected proposals to waive the rollbacks.