The tax increase is 3.9 cents per $100 of assessed valuation, with 1.1 cents to go into the general fund and 2.8 cents to go into the building fund.
Superintendent Kim Dublin says the increase in a resident of Graves County's total tax bill should be in the neighborhood of $3 to $6 a month for most people.
School districts are not allowed to raise their tax rates by 4 percent without recall. They are allowed to set a rate that produces 4 percent more revenue than the year before. In Graves County's case, this amounts to 1.1 cents per $100 of assessed valuation. That amount of the tax increase cannot be recalled by a vote. The additional 2.8 cents of the 3.9 cent total is the recallable portion.
Of the proposed tax increase, Dublin said the 1.1 cent portion will go toward new student resource officers. The 2.8 cent recallable portion will go to renovate Lowes Elementary School and replace the HVAC at Farmington Elementary. Without the increase, Dublin says renovations to Lowes will not happen.
A small group of Graves County residents has formed a committee to petition against the tax hike. They want to put the issue on the ballot and give voters a chance to repeal the tax hike. The committee needs 1,680 valid signatures in the next 30 days, and then the process for verification can begin.
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Graves County Schools Funding Information
