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The Flat Rock-Hawcreek School Corp. has passed a $9.22 million General Fund budget, which school officials said should amount to little if any tax increase to homeowners.
During a public meeting Monday, board members voted 4-0 for the proposed 2014 budget that includes $5.88 million in General Fund spending. No members of the public attended.
The fund is the school system’s main operating account that pays routine expenses such as salaries. The rest of the budget includes capital projects, bus replacement, transportation and debt service.
Jeff Cleland, the district’s business manager, had predicted previously that the tax rate would settle in at $1.45 per $100 of assessed valuation, which is about the same as it is in 2013. However, he said on Thursday that too many unknown factors exist to say that with certainty.
He said all he knows for sure is that his advertised tax rate of $1.63 is a worst-case scenario that would raise people taxes by 20 cents per $100 of their home’s assessed valuation. That would cost the owner of a $100,000 home $200 more than what was paid this year.
He said the rate almost certainly will settle in at less than that, based on unknowns such as the total amount of assessed valuation in the district.
The exact tax rate cannot be determined until the Indiana Department of Local Government Finance certifies the total assessed valuation in northern Bartholomew County.
Cleland said there is little to differentiate the proposed budget from the one in the current year.
However, the school district will begin paying back $218,000 a year on a $1 million loan, which paid for technology, paving and improvements to the school track and tennis courts.
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