Lebanon Reporter

February 3, 2012

LCSC tax rate decreases for fifth year

By Krista Mnichowski and Sarah Lang
The Lebanon Reporter

Lebanon — For the fifth consecutive year, the property tax rate for the Lebanon Community School Corp. is decreasing, Charles Tait, corporation assistant superintendent and business manager, announced at last week’s school board meeting.

At the meeting, Tait reported that the estimated final tax rate would fall between $1.05 and $1.10 per $100 of assessed value. But Wednesday, Tait said the final rate has come in at $1.054.

“It’s nice to report to our patrons that we’ve been able to decrease again,” Tait said Wednesday. “It’s great.”

In a period of tight school budgets, this news from LCSC is a bright light. Tait said it’s uncommon these days to have a school tax rate decreasing for consecutive years.

“Some school corporations are just bringing on more debt,” he said. “Even though we have brought on debt, we’re paying off old debt at the same time, so it balances out.”

Part of the reason the tax rate decreased is because the assessed value of property within the LCSC district increased by $34 million this year, Tait said. It is now at nearly $1.07 billion.

See Friday’s Lebanon Reporter for more of this story.