Wednesday, August 24, 2011
KINGDOM CITY — The North Callaway Board of Education approved almost a 3.5 cent tax rate increase recently.
Superintendent Bryan Thomsen said Tuesday the increase was necessary to keep the district’s revenues consistent.
“The reason it has to be bumped is because our adjusted assessed value declined a little bit,” Thomsen said.
During the Aug. 18 school board meeting, Thomsen showed the members how the 2011 adjusted assessed valuation at $80,403,618 went down from the 2010 figure of $81,294,669. Members kept the 2011 tax rate for debt services the same as last year at $.6622, but the operating expenses tax rate went up from $3.0939 to $3.1282 making a total tax rate of $3.7904.