FARRELL – Farrell school board will raise taxes and use a portion of its fund balance to close a gap in its budget for 2019-2020.
The $17.2 million budget for the coming school year passed at the board’s June meeting.
Propery taxes will rise 2.63 mills or 3.7% from 71.15 to 73.78 mills. A mill is $1 for every $1,000 of assessed property value; assessments are the 1970 market value. At 71.15 mills, a property assessed at $10,000 would carry an annual tax bill of about $712.
The average homeowner would see a rise of $38.45 or about $3.20 per month.
Superintendent Rev. Dr. Lora Adams-King said the reasons for the increase are the same as in some other districts.
“Much of the increase is due to ... personnel costs, in particular to meet the district’s obligation for the rising retirement fund ... rising cyber and charter school tuition and the renovation project,” Adams-King said. “Every dollar of the (cyber and charter school) tuition is paid by the school district through tax dollars.”