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School District Property Tax Drop
(Clinton) -- Legislative updates finalized and help property tax rates will drop
Clinton school officials reported some good news for taxpayers. At the meeting last night, Business Manager Jan Culbertson told the board the tax rate would be lowered due some updates in legislation.
Culbertson reminded the board that the rate was set at $16.86–per–thousand dollars valuation which was an 8-cent increase with the chance it could be lowered.
The court ordered lower valuation for the ADM co-generation plant was the reason cited for the increase. Culbertson said the district discovered a little know section of the Iowa Code allowing the district with changes in tax receipts due to no fault of their own to get some state funds and the district received nearly $245,000 from the state. She said other calculations on funding legislation finally approved by lawmakers also helped lower the rate.
Culbertson said the new rate is $16.63. That is 15 cents lower than the current rate and 23 cents lower than the published rate for the budget year.
Culbertson said the changes will be revenue neutral for the district-meaning it will not mean additional revenue nor a loss of revenue.
Written 7/10/2012 by Dave Vickers - KROS News
