County schools take compensating tax rate

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Taxpayers who live in the Taylor County School District will see a bit of a decrease in their school property tax rate this year, though the schools will still get the same amount of revenue as last year.

At a special meeting last Monday, Board members approved a tax rate of 44.1 cents per $100 of property valuation for the 2012-2013 fiscal year.

The rate for the 2011-2012 fiscal year was 44.3 cents per $100 of property value.

At the meeting, Taylor County Superintendent Roger Cook said the District has only raised its tax by 48 cents in the past 10 years. He said this year's compensating rate will actually be lowered for the second year in a row.

A compensating tax rate could increase or decrease, based on property values. The rate is set to generate the same amount of money as the past year.

Schools can also choose to set a rate that produces a 4-percent increase in revenue without it being subject to voter recall. Voters can recall any rate that produces more than a 4-percent increase in revenue.

Cook said the District's tax rates have increased by less than $1 a year for the past 10 years, which, over that time period, is the equivalent to $8 dollars for a $100,000 property.