School tax rates are lower this year for residents living within the borders of the Lebanon Community School Corporation, Business Manager Charles Tait shared with the school board and the public at Tuesday’s meeting.
The tax rate went down eight cents this year. The total tax rate for 2013 is $.97 per $100 of assessed valuation, down from $1.05 last year.
“This is very good news for our taxpayers — the school corporation is in great financial shape,” Tait said. “It is very favorable.”
Part of this good news is due to the increase in the city’s assessed valuation, such as the value of homes, businesses and farm properties within the corporation limits. That allows the corporation to raise the same dollar amount with a lower tax rate.
“That clearly has a positive impact,” said LCSC Superintendent Dr. Robert Taylor. “Because of our fortunate location on the interstate and between Lafayette and Indianapolis, it appears Lebanon has a nice draw to businesses that will continue to allow us to have the lowest tax rate I have ever experienced ... .”
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