The Adair County Board of Education has approved a 4 percent increase in the real estate property tax.
At a special called meeting on Thursday evening, the board voted 3 to 2 in favor of the 4% increase instead of the compensating rate. Board chairperson Lisa Burton made the motion to pass the 4% tax rate and the motion was seconded by board member Terry Harvey. Board member Mike Harris also voted in favor of the motion. The two board members who opposed were Daniel Adams & Jonathan Gaskins.
The 4% tax rate will generate $3.6 million ($3,606,055) for the district, $134,000 more than last year. If the compensating rate had been approved, it would've raised approximately $3.4 million (3,472,590). Local school districts can increase property taxes 4 percent every year, the most an entity can do without facing a rollback election. Last year, the board went with the compensating rate. The year before that, the board approved of a 2% increase. Adair County School Supt. Dr. Pamela Stephens tells WAVE News that the 4% increase gives the district the support needed to move forward.
With the 4% school tax increase, the rate for real estate & tangible property will be 53.5 cents per $100 of value. For example, the owner of a $100,000 home will see an increase of approx. $20.00 in school taxes.
The motor vehicle tax remains at 56.3 cents per $100 of value.
The utility tax will remain the same at 3%.
The utility tax will remain the same at 3%.
Aircraft are exempt from school district property taxes.
Watercraft are not exempt, however the rate is unknown at this time.
Only one person, Adair Co. resident Will Pilkington, questioned the school district's need for the hike at the beginning of the special called meeting.
