On the April 2, 2019 election ballot, the Southern Boone County School Bond Issue will be posted as a question.
If this question is approved, the adjusted operating tax levy of the district is estimated to increase from $3.6585 to $4.0585. The .40-cent tax increase is for construction of a 2-story addition at Primary School located on the south side of the current building.
Out of the 40-cent increase, 30-cents will go towards the $6 million construction project, and 10-cents will contribute towards additional faculty. “Including salary, benefits, and retirement, it costs approximately $50,000 per new teacher hire,” said Superintendent Chris Felmlee.
The School Board will vote to add 25-cents to the debt service in order to accelerate bond payments in August 2019. “We are at our bonding capacity at the 15% threshold, that is why we entering a purchase lease agreement, for the Primary building and will vote in August on the 25-cent levy,” said Superintendent Chris Felmlee.
The School Board does not have to seek approval for the 25-cent increase because it is the responsibility of the board how to pay down the debts of bonds that the community has already approved.
Bringing the total tax increase to 65-cents per $100 of assessed valuation and would add $65 to every $100,000 of assessed valuation on school district property.
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