School board to hold public hearing on 4 percent revenue hike

-A A +A
By The Staff

Anderson County Board of Education invites the community to a public hearing tonight, Wednesday, Aug. 29 at 5:30 p.m. regarding a potential 4 percent revenue increase for city and county taxpayers.
A 4 percent revenue increase raises district tax rates from $5.52 to $5.69 per $100,000 assessed value, a 3 percent tax rate increase from last year.
The increase would add $17 on tax bills of homeowners with properties assessed at $100,000.
The board is also considering other options in setting its tax rates — compensating and flat.
If the board takes the compensating rate at $5.48 per $100,000, the district will still increase its revenue by about $62,000, according to property valuation data.
Property assessment values in Anderson County grew to about $22 million overall, thanks largely to local distillery Wild Turkey’s expansion.
The 4 percent revenue increase will increase tax revenue for the district by about $307,000 as compared to the compensating rate.
Taxing districts across Anderson County have mainly continued a trend of keeping tax rates flat or lowering them, the most recent being the fire district, which elected to keep its tax rate flat.
All taxing districts are required to provide a tax rate to the Anderson County sheriff’s office by mid-September.   
The Board of Education’s public hearing will be held at the district central office, located at 1160 Bypass North.