By Brian Knox | Wise County Messenger
The tax rate for the Decatur school district will not change for 2018.
The school board Monday approved keeping the rate at $1.34 per $100 valuation. That includes $1.04 for maintenance and operations and 30 cents for the payment of debt.
The board also approved a $34.8 million budget, a decrease of about $1.6 million from last year’s adopted budget. It will require a reduction of $16,703 in interest and sinking fund balance.
One big change in this year’s budget is a change in recapture requirements. Because of the dip last year in property values and the increase in student enrollment, Decatur is no longer considered a “property-rich” district, so the district will not be required to pay recapture funds to the state this year. Last year, the district had to pay nearly $1.9 million in recapture payments.
Other highlights of the budget include a $1,150 general pay increase for teachers, librarians and nurses and a 2 percent of midpoint increase for all other pay grades. Starting teacher pay was increased to $45,000 from $44,000 last year.
The budget is funded by 75 percent local revenue, 24 percent state revenue and 1 percent federal revenue.
The district’s certified tax values increased by about $80 million this year, driven by a 12.8 percent increase in real property.
Read original Wise County Messenger article.