The Jenkins Independent Schools Board of Education has voted to raise taxes by the lowest of three state rates allowed on assessed property value. The board chose to raise rates by the compensating rate of four cents per $100.00 of assessed property value.
The board took the action during a special meeting last week.
Other options for the board were a four percent increase of 78.6 cents per $100.00 or a House Bill 940 option of 82 cents per $100.00 of assessed property value, made possible by House Bill 940 which comes into effect when tax revenues are no higher than they were the previous year. Because taxes and state funding based on Average Daily Attendance rates were both lower than last year, the board could have raised rates to the higher amounts in the option but they declined.
Superintendent Deborah Watts said Finance Officer Candala Gibson reported the district lost approximately $153,000 on ADA funding and unknown State Budget issues, as well as a net property assessment decrease of $2,012,064 in Real Estate, $3, 813,127 in Tangible Personalty, as well as a $1,419,460 decrease in Public Service Tangible Personalty, which is legally defined as personal property.
The motion to set the tax rates at the Compensating Rate was made by Tracy Goff , seconded by Paulette Sexton, and the roll call vote was unanimous. The tax rate on motor vehicles is unchanged from last year at 69 cents per $100.00.