No one spoke at a public hearing Thursday evening before the Madison County Board of Education enacted 2009 tax rates that should yield about 5.5 percent more revenue than realized this year.
The rates were adopted 3-0 with members Doug Whitlock and Ron Eden absent.
The rates of 52.9 cents per $100 of assess value for real property, and 58.7 cents for personal property, will bring in an extra four percent from existing property. When applied to new property, an additional 1.5 percent of total revenue should be realized, said Glenn Marshall, assistant superintendent for finance.
The increased rates are permitted under House Bill 44 and other state laws without triggering a potential recall referendum, he said.
With a major construction project under way and another about to begin, coupled with rising fuel prices, the additional money is needed, said superintendent Tommy Floyd.
Construction of the new B. Michael Caudill Middle School in Richmond is scheduled to be completed for the 2009-10 school year.
Expansion and renovation of Madison Southern High School is to begin later this year.
The meeting took place at White Hall Elementary School, and was preceded by a reception in honor of the school’s earning of Blue Ribbon status under the federal No Child Left Behind program.
The school also ranked sixth this year among the state’s elementary schools on the Commonwealth Accountability Testing System (CATS).
The district’’ 10 other elementary schools have surpassed or nearly reached a CATS score of 100, which is the state’s goal for all schools by 2014, assistant superintendent Randy Peffer said.
Both county high schools and three middle schools met their CATS goals for the year, but the district wants to match the elementary school’s achievements in the high grades.
The district’s enrollment grew by 161 this year to 9,916, said assistant superintendent Paul Baker.
Since the fall of 2000, the system’s enrollment has grown by 1,781, or nearly 22 percent.
The Madison County school system is one of 20 “growth districts” in the state, Marshall said.
Bonds to finance the Madison Southern construction project will be sold Thursday, said Anthony Thomas of Clotfelter-Samokar.
The sale should benefit from recent interest rate cuts by the Federal Reserve Board, he said.
Bill Robinson can be reached at brobinson@richmondregister.com or at 623-1669, Ext. 267.
Local News
County schools tax to net 5.5 percent
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