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PrintThe Columbia Library District and Boone County Library District boards will hold two public hearings Thursday night regarding the districts’ 2006 tax rates.
The first public forum will take place at the Boone County Library District Board meeting at 6 p.m. Thursday in the Virginia Young Room of the Columbia Public Library. The second forum will be held at the Columbia Library District board meeting at 6:30 p.m. Thursday in the Training Center of the Columbia Public Library.
The Columbia Library District board will consider maintaining its 2005 operating tax rate of 29.7 cents per $100 assessed valuation. The Boone County Library District Board will consider maintaining its operating tax rate at 29.86 cents per $100 assessed valuation.
The operating tax revenue from the Columbia Library District, the Boone County Library District and Callaway County Library District fund the operation of the Daniel Boone Regional Library.
The regional library’s financial staff is also recommending a 16 percent decrease of the Columbia district’s debt service tax rate, taking the tax from 27.5 cents per $100 assessed valuation to 23 cents per $100 assessed valuation.
The Columbia district’s debt service fund is an interest-earning account designated to repay the debt incurred by construction of the Columbia Public Library.
Jim Smith, head of financial services of the regional library, said the Columbia Library District is able to set a lower tax rate for the debt service fund be-
cause the Columbia district refinanced in 2005. Other reasons for the decrease include growth in assessed valuation and interest accumulated in the fund.
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