Decatur Superintendent to speak at Monday’s City Commission meeting
The City Commission will hear a presentation from City Schools of Decatur Superintendent Phyllis Edwards on Monday, March 2, regarding a proposal to borrow money to pay for school expansion.
Edwards will speak to the commission during their work session, which will begin at 6:45 pm. The City Commission meets at City Hall, located at 509 N. McDonough St. All meetings are open to the public.
“I have invited Dr. Edwards and any of the Board members and CSD staff who plan on coming to the work session to join the City Commission’s dinner session at 5:45 pm, which is an open posted meeting,” City Manager Peggy Merriss said.
School Board members are asking the commission to approve a bond referendum that would help the system cope with a projected surge in enrollment. The current enrollment is 4,364 students. All of the general obligation bond estimates considered at Tuesday’s meeting envision a low-growth scenario, which predicts a total enrollment of 6,527 students without annexation.
The board members had considered asking for an $82 million GO referendum, but backed away from that idea during a Feb. 23 School Board meeting.
If CSD did seek $82 million, residents would be asked to vote on whether to raise their own taxes to pay off the debt.
If the School System paid back the bond over 20 years, the tax picture would look like this each year:
2016 Millage = 1.50 2017 – 2036 millage = 3.46
Tax on $150,000 home: $112.18 $259.17
Tax on $300,000 home: $224.37 $518.35
Tax on $500,000 home: $373.95 $863.91
Tax on $700,000 home: $523.53 $1,209.47
Extend the timetable to 25 years and the picture brightens further …
2016 Millage = 1.60 2017 – 2036 millage = 2.98
Tax on $150,000 home: $120.21 $223.24
Tax on $300,000 home: $240.42 $446.48
Tax on $500,000 home: $400.70 $744.13
Tax on $700,000 home: $560.98 $1041.79
And now 30 years …
2016 Millage = 1.68 2017 – 2036 millage = 2.67
Tax on $150,000 home: $126.32 $200.02
Tax on $300,000 home: $252.64 $400.04
Tax on $500,000 home: $421.06 $666.73
Tax on $700,000 home: $589.49 $933.43
Source: City Schools of Decatur
To see our previous story about this issue, click here.