school tax rate
given a modest increase
Brandywine school board set a tax rate of $1.8385 for each $100 of
assessed property value for this fiscal year, up 2.2¢ from last
The increase was in the
debt-service component of the rate. Financial officer David
Blowman said it was needed to pay interest and principle on state
bonds sold recently to finance the third and final phase of the
district's renovation program. "This is the high-water mark," he
said, explaining that the debt-service rate will decrease in future years as
bonds are retired.
He noted that the peak was
6¢ less than was predicted at the time of the last capital
referendum. That, he said, was the result of the decision to tear
down rather than renovate the former Hanby Middle School and
lower-than-expected interest rates on the bonds.
This is the fifth year in
which the operating-expense component has remained within the limit
set at the last referendum. Blowman said it is too early to tell
whether there has to be a referendum in 2012.
The overall tax rate will
bring in about $44 million, Blowman said.
The board agreed unanimously on the
new rate without any discussion at its meeting on July 11. The tax is due
to be paid by the end of September.