Covington Schools Decline Full Property Tax Increase for Third Straight Year
Fri, 09/12/2014 - 07:11 RCN Newsdesk
For the third consecutive year, the Covington Board of education will take only the minimum compensating rate instead of the full 4% increase on property taxes.
At its meeting Thursday held at Holmes High School, the board voted 5-0 to take the compensating rate. The Board includes Jerry Avery, Julie Geisen Scheper, Kerry Holleran, Glenda Huff, and Joyce Baker.
Superintendent Alvin Garrison recommended the compensating rate to the board, saying that the district has been good stewards of taxpayers’ money. Garrison said the district’s budget committee, which includes two board members, the district’s finance director and other district personnel, meets throughout the year to analyze and reanalyze the budget – looking at spending patterns, department budgets and ways to reduce costs. The on-going process is healthy for taxpayers and the district, he said.
“With no increase to the tax rate, we are still keeping true to our goal of graduating students with the 'skills to achieve their dreams and adapt in a changing global society',” Garrison said.
Taking the compensating rate means the district will generate nearly the same amount of revenues as it did the previous year. The board’s action decreases the real property tax rate from 115.3 cents to 113.2 cents per $100 of assessed valuation, while the property tax rate will go from 115.3 cents to 115.6 cents per $100 property valuation.
The new rate is expected to generate $16,684,911.
Board Chairman Jerry Avery, who also is a member of the budget committee, said the boardis proactive and strategic with the budgeting process, adding that the district is saving where feasible and only spending when necessary.
Photo: Covington Board of Education building/RCN file