At its meeting at 6 tonight, the Vigo County School Corp. board is to vote on the proposed referendum seeking additional operating funds.
If cleared by the board tonight, placed on the ballot and approved by voters in November, the measure would raise $7 million each year for eight years.
The school corporation today released the language of the proposed ballot question. It reads:
“For the eight (8) calendar years immediately following the holding of the referendum, shall Vigo County School Corporation impose a property tax rate that does not exceed sixteen and twenty-two hundredths cents ( $0.1622) on each one hundred dollars ($100) of assessed valuation and that is in addition to all other property taxes imposed by the school corporation for the purpose of funding safe transportation of students, to maintain safe and secure schools, reduce class sizes and attract and retain the very best teachers and staff for our children?”
It’s estimated that owners of a residence with a gross home value of $100,000 would pay $53 per year. With a gross home value of $200,000, a home owner would pay $158 per year.
For a $100,000 commercial property, the annual tax impact would be $162; for an acre of agricultural land valued at $1,560, the impact would be $2.53 annually per acre, according to the estimate.
After tonight's board meeting, VCSC we will hold its third community conversation about the need for the referendum.