R-I returns to tax rate, approves new change

Poplar Bluff R-1 held a special session Thursday afternoon to reevaluate the previously approved tax rate for 2019.

At its regular meeting on Aug. 22, the board approved a slight increase of $0.0176 for the 2019 year with an approved tax rate of $3.6679 per $100 of assessed valuation. However, after administration reviewed the assessed valuation again, they found that it was set slightly higher than it needed to be.

At Thursday’s meeting, the board approved a change to the rate which still has a slightly higher than the 2018 rate of $3.6503, but lower than the original rate. The new rate is set at $3.6504, which is a decrease of 0.0175 from what it was going to be. Dr. Amy Jackson, assistant superintendent, said in most Tax Increment Financing, $2.5 million is deducted. However, based on how the R-I rate is set, that $2.5 million is not deducted. Jackson calculated that amount back into the assessed valuation in order to get the new amount.

The funding goes into four different pools with only the amount for the capital fund changing from what was originally proposed.

The general fund will receive the bulk of it at $2.75, which Dill said is the lowest amount that can be put into that fund. The district does not keep a teacher fund, which means that none of the tax money would go into it. The debt service fund will receive $0.180, which helps the district make debt payments.

The last fund is the capital projects fund, which will receive $0.72040 compared to the $0.73790 that was originally proposed. This pool of money is what helps pay for work, construction or repair work around the schools. For instance, money from that pool is paying for the Early Education Center that is currently under construction.

“We are cognizant of our taxpayers and want to ensure that we only establish the taxes necessary to pay out debt and conduct school business,” she said.